Course description
Management of Value (MoV®) Foundation
This interactive MoV® Foundation course provides a modular and case-study-driven approach to learning Management of Value (MoV). The core knowledge is structured and comprehensive; and well-rounded modules cover the methodology and various techniques. A case study is used to help appreciate the relevance of MoV in its practical application.
Upcoming start dates
1 start date available
Suitability - Who should attend?
Who Should Attend
The course will be of benefit to all levels of management including:
- Corporate Managers - responsible for instigating MoV studies with a view to starting new programs or projects
- Program Managers - responsible for making sure programs deliver the best value solutions taking into account the views of the stakeholders
- Project Managers - responsible for delivering products from their projects that represent the best value for money solutions
- Operational Managers - responsible for undertaking MoV studies to assist in reviewing operational procedures and improving efficiency
- Any other professionals who have an interest or responsibility for Management of Value within their organization
Outcome / Qualification etc.
What you will Learn
Upon completion of an MoV course candidates should be able to discuss and explain:
- The main processes and techniques used within MoV and the reasons for using them
- How MoV may be applied at portfolio, program, project and operational levels
- The differences in applying MoV at different stages in a project and the expected outputs from a MoV Study at each stage
- The circumstances under which MoV should be used
- The concept of value and how value may be improved
- The main benefits arising from the use of MoV
- Approaches for implementing MoV
- How to respond to external and internal influences
- The principles of embedding MoV into an organization
- The key topics in document checklists, the toolbox, health check, organizational maturity and individual competence.
Upon successful completion of this course, you will be able to:
- Organize and contribute constructively to a Management of Value (MoV) Study
- Demonstrate a knowledge of MoV principles, processes, approach and environment
- Analyse a company, program or project to establish its organizational value; includes identification and weighting of Value Drivers
- Pass the AXELOS MoV Foundation Examination
Training Course Content
Introduction to value management and MoV
- Value and Value Management
- Capabilities, Outcomes, Benefits and Disbenefits
- What is Value?
- What is Management of Value (MoV)?
- Why use MoV?
- Where use MoV?
- When MoV should be used?
- What using MoV involve?
- Selected MoV benefits
- Relationship with other AXELOS Global Best Practices and Models
- How MoV fits with other AXELOS Global Best Practice Guides
MoV principles
- Align with organization’s objectives
- Focus on functions and required outcomes
- Balance the variables to maximise value
- Apply throughout the investment decision
- Tailor MoV to suit the subject
- Learn from experience and improve
- Assign clear roles and responsibilities and build a supportive culture
MoV processes
- Frame the programme or project
- Gather information
- Analyse information
- Process information
- Evaluate and select
- Develop Value Improving Proposals
- Implement and share outputs
MoV techniques
- Function Analysis
- Function Analysis System Technique (FAST)
- Traditional (or classic) FAST
- Technical FAST
- Customer FAST
- Value Trees
- Measuring value
- Value profiling (a.k.a. value benchmarking)
- Simple multi-attribute rating technique (a.k.a. SMART)
- Value index
- Value metrics
- Value for money (VfM) ratio
- Value Engineering / Analysis
Common techniques used in MoV
- Analysis of information
- Benchmarking
- Process Mapping
- Root Cause Analysis
- Discounted Cash Flow Analysis
- Generating Ideas
- Brainstorming
- Evaluation and option selection
- Option Selection Matrix
- Idea selection
- Allocation to Categories
- Idea Selection Matrix
- Weighting techniques
- Paired Comparisons
- Points Distribution
- Developing VIPs
- Developing Proposals
- Cost Benefit Analysis
- Building Decisions
- Implementing VIPs
- Implementation Plans
- Feedback
- Following up
- Tracking Benefits
Approach to Implementation
- Generic approach to MoV implementation
- Plan the MoV activities
- Understand and articulate value
- Prioritize value
- Improve value
- Quantify value
- Monitor improvements in value
- Learn lessons
Environmental factors
- Portfolio Considerations
- Programme considerations
- Project considerations
- Operational Considerations
Embedding MoV into an organization
- Benefits of Embedding MoV into an organization
- MoV Policy
- MoV Policy Composition
- Embedding MoV into an organisation Key steps
- Suggested MoV Management Structure
- Overcoming barriers
- We do it anyway
- It takes up too much time
- We can’t afford to make the changes
- What’s in it for me?
- Don’t fix it if it ain’t broke
- Fixed returns on investment
MoV products
- Briefing Meeting Agenda (A.1)
- Communications Checklist (A.2)
- Equipment list for an Effective Study/Workshop (A.3)
- Invitation to join the Study Team (A.4)
- Option Evaluation Matrix (A.5)
- Plan the Study (A.6)
- Recording Idea Selection (A.7)
- Reporting Study outputs (A.8)
- Scoping the Study (A.9)
- Study or Workshop Handbook (A.10)
- Value-Improvement Proposal Forms (A.11)
- Value Improvement Tracking Report (A.12)
MoV toolbox
MoV health check and maturity model
- P3M3 Maturity Model
- MoV Maturity Model (aligned with P3M3)
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