Large IT projects often suffer from costing and taking twice as long while delivering only half the planned functionality. Many solutions have been attempted to improve project management and speed up delivery, but the best approach is to apply Lean principles to reduce waste in the IT process. The document defines three types of waste - Muda (non-value adding activities), Muri (unreasonable workloads), and Mura (uneven workflows) - and explains how eliminating these can significantly improve quality and lead times rather than just focusing on cycle times. Merging sub-processes and removing waiting times are emphasized as highly effective ways to remove waste from IT projects.