Final answer:
Lean Project Management is the approach that aims to eliminate waste, empower teams, and foster continuous improvement with a focus on delivering value.
Step-by-step explanation:
The project management approach that focuses on eliminating waste by maintaining a tight focus on the intended value of the project, empowering the team to make decisions, and emphasizing continuous learning is Lean Project Management.
This methodology stems from lean manufacturing principles which aim to maximize customer value while minimizing waste. Instead of adding more processes or checkpoints, Lean Project Management seeks to simplify processes to increase efficiency and effectiveness. It empowers teams by encouraging them to take ownership of their work and facilitates continuous learning by reflecting on the value stream and continuously improving processes.