Waste impedes agility. It not only slows progress, but it robs money that could otherwise go to creating value.
I was considering waste in light of the notions of velocity and capacity. Some Scrum users try to predict the outcome of the upcoming Sprint using velocity, the amount of work or PBIs they predict can be done. One practice used to calculate this velocity is to inspect past velocities and study upcoming team capacity.
I wonder, though. When we start a project or a release, of course we have a general scope, a projected cost, and a probable date. We then move forward, Sprint by Sprint, adjusting our plans to the realities we encounter. We may go faster or slower than expected. We may encounter new opportunities or challenges. We may find that some of what we planned is of lower value than newly emerging requirements.
Let postulate that we ignore velocity and capacity entirely. At the Sprint Planning meeting, the Development Team selects some Product Backlog items and establish a goal. As the Sprint moves forward, they work with the Product Owner to remove PBIs that were more than they could do, or get more PBIs that fit within the goal if they have some time available. At the end of the Sprint, they have done what they have done. At the Sprint Review, the Product Owner, Development Team, and key stakeholders inspect and adapt based on what was completed.
We use short cycle development, with Sprints as short as a week, so that we will frequently know our progress toward our goals, commitments, and projections. I suspect, unless convinced otherwise, that any time we spend worrying about velocity or capacity is waste, not adding a whit of value.