Define 'Lead Time.'

Lead Time is defined as the total time from when work begins until it is completed. This definition encompasses the entire process, providing a comprehensive view of the duration involved from the initiation of work to its delivery.

In the context of service management and project delivery, understanding lead time is essential for effective planning and process optimization. It helps organizations gauge efficiency, identify bottlenecks, and improve their overall workflow. The focus on total time implies that all phases of work, including any delays and active work periods, are considered, leading to a more accurate reflection of the actual time invested in delivering a service or completing a project.

The other options diverge from this comprehensive perspective. For instance, the approval period, time spent awaiting resources, or the time taken to define objectives represent only specific components of the overall lead time rather than capturing the entirety of the process from start to finish. By accurately identifying lead time, organizations can better strategize their planning and improvement efforts.