MoV®) Foundation | Pentagon Training

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

This two-day training of Management of Value (MoV®) Foundation will teach delegates with a clear understanding of the guidance planned to help maximise value within the achievement of programme and project objectives and the delivery of essential stakeholder requirements.

This interactive MoV® Foundation course offers a modular and case-study-driven method to learning Management of Value (MoV®). The core knowledge is planned and complete, and well-rounded modules cover the methodology and numerous techniques.

Who should take this course

Corporate Managers – responsible for starting new programs or projects
Operational Managers – responsible for undertaking MoV studies to help in reviewing operational procedures and enhancing efficiency
Program Managers – responsible for making sure that programs deliver the best value solutions taking into account the views of the stakeholders
Project Managers – responsible for providing products from their projects that signify the best value for money solutions
Any other professionals who have an interest or 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 domain and also, those who wish 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.

Enable effective consultation and engagement with stakeholders and end users
Increase benefits, decrease expenditure and speed up delivery without affecting essential project scope or quality of service
Enable more effective delivery by employing fewer resources to better effect.
The primary processes and techniques used in the MoV and the reasons for using them
How MoV may be applied at portfolio, project, program, and operational levels
Deliver more relevant outcomes less expensively.
Understand how to measure and audit value, taking into account benefits such as monetary and non-monetary and attaining an ideal balance between them, thus demonstrating optimum value has been achieved.
Study the differences in using MoV at different stages in a project
Study the expected outputs at each stage
The conditions under which MoV should be used
Know how value can be enhanced
Supports sustainable decision making, depends upon adding value, by addressing both monetary and non-monetary factors
Allows delegates to enhance the value they deliver and uses resources in much better way
Understand the approaches for implementing MoV effectively
Learn how to respond to external and internal influences
Learn about principles of embedding MoV into a business
The main benefits arises from the use of MoV
The key topics in document checklists, health check, toolbox, organisational maturity and personal competence.
Encourages innovation that is well aligned to the organisation’s goals
Get optimal balance between investment and long-term operating expenditure
Learn the better way to respond to both external and internal
Allows delegates to increase the value they deliver and use resources in much better way make better use of resources

Know the best way to respond influences either external or internal

Tutor Support

Certificate

Course Overview

MoV® aimed at improving benefits and reducing the cost to speed up the delivery without affecting vital project scope or service quality. It is not just about reducing the costs.

The MoV® is essential to effective policy making, projects, programs, service reviews or redesigning of products redesigns. Therefore MoV is important to Business as usual and P3M environments, providing an audit trail of how ideal value can be achieved. It captures fundamental stakeholder necessities for what products should do rather than what they are.

MoV® provides a definition of value that includes both monetary and non-monetary. It also provides a method, supported by numerous techniques, for assigning small funds as efficiently as possible.

Benefits of MoV

Course Content

Introduction to MoV®

Define Value
Understand MoV®
Need of MoV®
Relationship To Other Methods of Management Methods

7 Principles of MoV®

Align With Organisation's Objectives
Focus On Functions and Required Outcomes
Balance The Variables to increase Value
Apply during the course of The Investment Decision
Tailor To Suit The Subject
Learn From Past Experience and Improve Performance
Assign Roles and Responsibilities
Build a Supportive Culture

MoV® Approach and Implementation

Describe generic process around which a study can be structured
Description of the relationships between the MoV study leader and the rest of the team

MoV® Environment

Description of the external and internal factors that affect MoV policies and strategies
Description of the considerations for the portfolio, programme, project and operational environments

MoV® Embedding

Overview of the embedding process
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

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

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® Techniques

Methods unique to MoV®
Methods that can be used within MoV®

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

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

MoV® Foundation Enquiry

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

About Buxton

Buxton is located at an elevation of 960 feet above sea level in Derbyshire, England. Buxton is also famous as the “gateway to the Peak District National Park”.

History

The town is believed to have been settled by the Romans who lived there throughout the occupation. Later, in the 18th century, the town was developed by the Dukes of Devonshire. After about a hundred years Buxton got introduced to the Victorians who developed it for the healing properties of the waters.

Healing Properties of the Water

Buxton has been known for its geothermal springs that emanate from the River Wye. The spring waters rise at a temperature of 28oC constantly. The fifth Duke of Devonshire is said to have developed the town as a spa from his own profits.

Festivals

The Buxton Festival

The Buxton Festival was founded in 1979 and continues for a three weeks period in July. It is an opera and arts festival that runs at various venues including the Opera House. Various programs are included in this festival. During the festival, literary events, concerts and recitals are also held.

The Buxton Festival Fringe

The festival runs just alongside The Buxton Festival and is a warm-up or prelude to the Edinburg Fringe. The Buxton fringe hosts various kinds of cultural events and films in different venues around the town. In 2014 it had featured 600 such events from 150 plus different entrants.

People

Many known names belong to the town of Buxton. They include

Robert Stevenson who directed many pictures for Disney
John Buxton Hilton – British Crime Writer

Misc

Buxton hosts the Four Four Time music Festival every Feburary. It features rock, pop, folk, blues, jazz and world music. Buxton has various museums and art galleries that feature collections of local artefacts. They also display geological and archaeological samples and 19th- and 20th-century paintings.