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@Velocio
Ah, project management... my speciality. What Kirk has described is somewhere between the Toyota method, and pure Kanban. He's totally right, anything in-flight is tying up space, material and represents invested money sat on a shelf (as well as a distraction in managing expectations/communication with buyers).
At work we measure velocity (throughput) and also measure latency/lag at all steps (where we slow down). The idea being that only throughput matters, and that the parts of the process that affect throughput are the parts we need to figure out better tooling, or radical things like revisiting the entire process or method. We're still shit, everyone is, but we're less shit than we were.
I could give you free training in this stuff if you wanted. It may be of interest to you. The software tooling to manage it isn't really necessary, most project management stuff can be done on paper or with a whiteboard.