Process improvement involves identifying opportunities to optimize existing processes by eliminating waste, streamlining steps, and reducing resources needed. Common process improvement methodologies include Six Sigma, Kaizen, PDCA, and Work Process Improvement. The WPI methodology is a 5-step approach involving preparing for the project, understanding the current process, improving and testing changes, and standardizing the new process. Overall, process improvement aims to continuously enhance processes to increase effectiveness, efficiency and quality.