Process is the facet that looks at how work gets done. It focuses on Value Added Time and maximizing it. Two closely related areas are Lean Manufacturing and Agile.
Lean Manufacturing is about reducing waste in well-known processes that are highly predictable. Every reduction of waste in the process will increase the efficiency of the production line, increasing productivity and profitability.
Agile in contrast is for processes that are unknown or unpredictable. It focuses on reducing waste whilst trying to find new ways to add value. In Agile processes, the focus is still on reducing waste, but the ability to adapt to new information and new situations is more important.
Creating more value at lower cost