True or False: A value stream begins and ends with a customer.

A value stream indeed begins and ends with a customer. This concept is rooted in the understanding that value streams are all about delivering value to the customer. The process typically starts when a customer's need is identified, and it continues through various stages, including development, production, and delivery, all aimed at meeting that need.

Once the product or service has been delivered, the engagement often concludes with the customer’s feedback or satisfaction level, which can lead to further iterations or enhancements based on customer insights. Consequently, viewing the value stream as a journey that starts with customer requirements and ends with customer satisfaction is essential for ensuring that all activities along the stream contribute to value creation.

Considering the other options, they do not adequately capture the holistic view of a value stream as centered around customer value. The notion that it depends on the project reduces the universality of the concept, while stating that it only occurs when the product is delivered limits the definition by ignoring the importance of the initiation phase driven by customer needs.