MoV® Foundation & Practitioner

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+44 1344 961530

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info@pentagonit.co.uk

Introduction
Course Details
Course Content
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A Quick Glance

Supplement current management practices to increase the value delivered and make better use of resources
Endorses sustainable decision making, depending on adding value, by addressing both monetary and non- monetary factors
Increase value in line with the programme, project objectives and key stakeholder requirements
Give you a way of addressing reasonable advantage by adding value
Provide a way to define aims and scope clearly regarding the organisation’s and end users’ short and long term needs

Management of Value (MoV®) Foundation & Practitioner Training course is a four-day course that will provide delegates with a clear with a clear understanding of the concepts which are designed to get maximum value within project objectives and the delivery according to requirements of key stakeholders. MoV® gives a definition of value that includes both monetary and non-monetary benefits. It gives a method, supported by techniques, for allocating funds as efficiently as possible.

The concepts of MoV® has developed from the successful use of value management across many sectors, over the period of many years. This course describes methods that are as important as ever, although their use is frequently ignored and misapplied.

Who should take this course

Program Managers – responsible for ensuring that programs deliver the best value solutions taking into account the views of the stakeholders
Operational Managers – responsible for undertaking MoV® studies to help in reviewing operational procedures and enhancing efficiency
Corporate Managers – responsible for starting new programs or projects
Project Managers – responsible for providing products from their projects that signify the best value for money solutions
Any other professionals who have responsibility for Management of Value within their organisation

Prerequisites

MoV® Foundation training course is focused at those delegates who have no prior knowledge or experience in this field and also, those who want to get the adequate knowledge to enable them to make a contribution to any project, as well as contributing to improvements in the operational environment.

Allows delegates to increase the value they deliver and use resources in much better way make better use of resources Learn how to respond to external and internal influences
The key topics in document checklists, toolbox, health check, organisational maturity and personal competence
Know the best way to respond influences either external or internal
Understand how to apply MoV to a scenario situation
Enable delegates to contribute to MoV activities led by others;
Understand and explain MoV to others
Know how value can be enhanced
Get optimal balance between investment and long-term operating expenditure
Understand the approaches for implementing MoV effectively
Encourages innovation that is well aligned to the organisation’s goals
Allows delegates to enhance the value they deliver and uses resources in much better way
Supports sustainable decision making, depends upon adding value, by addressing both monetary and non-monetary factor
The main benefits arises from the use of MoV
Understand and explain MoV to others
Learn the better way to respond to both external and internal
Learn about principles of embedding MoV into a business

Exam(s) included

Certificate

Tutor Support

Course Overview

Management of Value (MoV®) is focused on improving benefits and decreasing expenses to speed up the delivery without influencing vital project scope or service quality. It is not just about reducing the costs. MoV is all about increasing value in line with project objectives. It captures fundamental stakeholder necessities for what products should do rather than what they are.

MoV® has emerged from successful practice of value management across different domains from many years. Our value management training course is pointed at all those involved in managing, directing, supporting and delivering portfolios, programmes and projects. MoV® is all about improving the value in line with the programme and project objectives and the requirement of key stakeholders. It is not merely about minimising costs.

The MoV® is essential to effective policy making, projects, programs, service reviews or redesigning of products redesigns. Therefore MoV is necessary to Business as usual and P3M environments, providing an audit trail of how ideal value can be achieved.

The course is designed around four integrated concepts:

Principles: Factors that support MoV®
Processes and Techniques: Consists of Methods and tools used in application of MoV®
Approach: How to apply MoV® programmes, portfolios, and projects
Environment: Respond to influences such as external and internal influences

benefits of MoV

Exam:

Duration: 40 Minutes
Type: Closed book
Total MCQ: 50 multiple-choice questions
Pass Mark: 50%

Course Content

Overview to MoV®

Define Value
Define MoV®
Why It Is Needed
It's Place In The Cabinet Office Best Practice Guidance
It's Relationship To Other Management Methods

7 MoV® Principles

Alignment With Organisation's Objectives
Tailor methods to suit The Subject
Learn from experience and improve performance
Functions and Required Outcomes
Balancing the Variables To Maximise Value
Apply Throughout the Investment Decision
Assignment of Roles and Responsibilities
Build a Supportive Culture

MoV® Environment

Know external and internal factors that affect policies and strategies of MoV
Describe the portfolio, programme, project and operational environments

MoV® Embedding

Understand Process of Embedding
Key benefits of embedding MoV®
Key steps of embedding MoV®
Roles and responsibilities required when using MoV®
Overcoming barriers to implementation

The 7 MoV® Processes

Frame The Programme Or Project
Gather Information
Analyse Information
Process Information
Evaluate & Select
Develop Value Improving Proposals
Implement & Share Outputs

MoV® Techniques

New Techniques in MoV®
Techniques that can be implemented within 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

Function Analysis

Function Analysis System Technique (FAST)
Traditional FAST
Technical FAST
Customer FAST

Value Trees
Measuring value

Value profiling (value benchmarking)
Simple multi-attribute rating technique (SMART)
Value index
Value metrics
Value for money ratio
Value Engineering / Analysis

Implementing MoV®

Planning activities of MoV®
Respond To External and Internal Factors
Define Portfolio, Programme and Project Considerations
Operational Considerations
Implementing Embedding MoV® Into an Organisation

MoV® Foundation & Practitioner Enquiry

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Reach us at +44 1344 961530 or info@pentagonit.co.uk for more information.

About Coventry

Coventry is a metropolitan area in the West Midlands, England. Historically part of Warwickshire, Coventry is the 9th largest city in England and the 12th largest in the United Kingdom. It is the second largest city in the West Midlands region, after Birmingham, with a populace of 345,385 in 2015. Coventry is 95 much north-west of central London, 19 miles east-south-east of Birmingham, 24 miles south-west of Leicester and 11 miles north of Warwick. Coventry Cathedral was constructed after the annihilation of the 14th-century cathedral church of Saint Michael by the German Luftwaffe in the Coventry Blitz of 14 November 1940. Coventry motor companies have donated meaningfully to the British motor industry. The city has two universities, Coventry University in the City Centre and the University of Warwick on the southern outskirts.

Areas of Interest:

Cathedral:

St. Michael's Church is Coventry's best-known landmark and visitor place. The 14th-century church was hugely demolished by German bombing during the Second World War, part only the outer walls and spire. At 300 feet above, the spire of St. Michael's is appealed to be the third tallest church spire in England, after Salisbury and Norwich. Due to the architectural design, it lived the destruction of the rest of the cathedral. The new Coventry Cathedral was opened in 1962 next to the ruins of the old. It was reproduced by Sir Basil Spence. The cathedral covers the tapestry Christ in Glory by Graham Sutherland.

Cultural Institution:

The Herbert Art Gallery and Museum is one of the largest cultural organisations in Coventry. Another visitor attraction in the City Centre is the Coventry Transport Museum, which has the main group of British-made road vehicles in the world. The museum established a refurbishment in 2004 which comprised the creation of a new arrival as part of the city's Phoenix Initiative project. It was a finalist for the 2005 Gulbenkian Prize. About four miles from the City Centre and just outside Coventry in Baginton is the Lunt Fort, a reconstructed Roman fort on its original site. The Midland Air Museum is located just within the border of Coventry on land head-to-head to Coventry Airport and near Baginton.

Red Major Improvements endure renewing the City Centre. The Phoenix Initiative, which was deliberated by MJP Architects, stretched the final shortlist for the 2004 RIBA Stirling Prize and has now gained a total of 16 separate awards. It was available in the book ‘Phoenix: Architecture/Art/Regeneration' in 2004. Further major developments are potentially afoot, chiefly the Swanswell Project, which is envisioned to deepen Swanswell Pool and link it to Coventry Canal Basin, joined with the creation of an urban marina and a wide Parisian-style avenue. A possible second phase of the Phoenix Inventiveness is also in the offing, though both of these plans are still on the drawing-board. On 16 December 2007, IKEA's first city-centre store in the UK was opened, in Coventry.