What is represented by 'Work in Progress (WIP)'?

'Work in Progress (WIP)' refers to the number of tasks currently being worked on. This concept is critical in project management and various agile methodologies, as it helps teams maintain focus and manage their workload effectively.

By tracking WIP, teams can ensure that they do not take on too many tasks at once, which can lead to inefficiencies and decreased productivity. Monitoring WIP allows teams to achieve a balance where they can tackle tasks effectively while also having the capacity to adjust their workflow as needed. This focus on limiting WIP is fundamental in practices such as Kanban, where the goal is to enhance flow and optimize the delivery of work.

The other options do not accurately describe WIP. The completed tasks pertain to past efforts, tasks waiting in a queue relate to future work that has not yet begun, and the rate at which tasks are completed refers to performance metrics rather than the ongoing workload. Understanding these distinctions is essential for effective process management within the scope of ITIL and beyond.