This document discusses lean based software development. It defines lean as maximizing customer value while minimizing waste. The ultimate goal is to provide perfect value to the customer through a waste-free process. Lean principles include optimizing the entire value stream, eliminating waste, building quality in, learning constantly, keeping processes improving, and engaging everyone. The document also discusses applying lean concepts like value stream mapping, takt time, and kanban to software development. It outlines seven principles of lean software development and defines various types of waste in software projects.