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 Reading

Located in Berkshire, Reading is a large and historically significant town. It was an important center of trade as well as religion in the medieval period. The Reading Abbey, still has its 12th century abbey gateway and significant ruins intact. Due to the English Civil War the town was damaged severely, causing a significant loss in trade. Reading also played an important role in the Revolution of 1688. It is where the revolution's only significant military action was took place. The Great Western Railway , the brewing business, baking and seed growing all happened in 19th century. Now,Reading boasts of being a major commercial centre, that involves information technology and insurance. Reading has, despite its nearness to London, a net inward traveler flow.

Reading came up as a settlement way back in the 8th century. It had become the largest town in Berkshire by 1525 and had a population of around 5000 in the early 17th Century. It was in the 18th century that major iron works in the town came up and the city saw the growth of the brewing business for which Reading is known till date. It was in the 19th century that Reading saw the growth of manufacturing business also.

Economy

Reading is a vital commercial centre in the Thames Valley and Southern England. It is home to the headquarters of many British companies and UK offices of foreign multinationals. It is also a major retail centre. Daily Reading has an inflow of 30,000 commuters as compared to 24,000 departures. Large companies such as Microsoft and Oracle have their headquarters in Reading. Other businesses in Reading are Prudential, PepsiCo and Wrigley. In 2007, an independent poll placed Reading 16th in a league table of best performing retail centres in the UK.

Culture

Reading is known for its Reading Beer Festival which was first held in 1994 and is now known to be one of the largest beer festivals in the UK. It takes place at King's Meadow for the five days immediately preceding the May Day bank holiday every year. Reading Pride also takes place at Reading, an annual LGBTA festival in Kings Meadow.

Museums

The Museum of Reading contains galleries that showcase the history of Reading . The museum is also home to the excavations of Calleva Atrebatum. It also houses a full-size replica of the Bayeux Tapestry, an art collection, and galleries relating to Huntley and Palmers.

Located in East Reading, The Museum of English Rural Life,is dedicated to the changing face of rural England. It also has collections of public value. It is not only owned but also managed by the University of Reading. The Ure Museum of Greek Archaeology, the Cole Musum of Zoology and the Harris Botanic Gardens are also under the same management. All these museums can be found on the university's Whiteknights Campus.

There is also a small Riverside Museum at Blake's Lock which tells one about Reading's two rivers, the Thames and the Kennet. The Museum of Berkshire Aviation houses a collection of aircraft and other aviation accessories.