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 Teesside

Teesside is the name given to the group of towns in the northeast part of England around the urban centre of Middlesbrough that is also made up of the towns of Stockton-on-Tees, Billingham, Redcar, Thornaby and surrounding settlements near the River Tees. Local government district also having same name between 1968 to 1974 the County Borough of Teesside.

Teesside is still an vital centre for heavy industry, also the number of people employed has dropped. Traditional industries, primarily steelmaking (British Steel) and chemical manufacture (Imperial Chemical Industries (ICI)), have been replaced to a large extent by science development high technology activities, and service sector roles.

Local government

The County Borough of Teesside was absorbed into the larger non-metropolitan county of Cleveland along with the towns of Guisborough and Hartlepool in 1979. The Teesside region was divided between the boroughs of Middlesbrough, Langbaurgh, and Stockton-on-Tees, with the wards of Billingham East & West, Stockton South, North End, Hartburn, Mile House, Norton, Grangefield, Ormesby, Thornaby East & West going to Stockton, the wards of Coatham, Eston Grange, Kirkleatham, Redcar and South Bank going to Langbaurgh and the rest going to Middlesbrough.

The River Tees and Teesport

Teesport is based on the River Tees and is currently the UK’s third largest port, and also it is included in the ten biggest ports of Western Europe. This port can handle over 56 million tonnes of goods annually which are linked with the chemical, steel processing industries and local petrochemical. The port is an vital part of logistical infrastructure for the NEPIC cluster of companies.