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 Dublin

Dublin

Dublin is the largest city and capital of Ireland. Dublin is located in Leinster province on the east coast of Ireland at River Liffey mouth. The Urban population of the Dublin is 1,345,402. The population of Greater Dublin Area according to 2016 is 1,904,806. After the Invasion, of Normans, Kingdom of Dublin became a principal city of Ireland. Dublin expanded rapidly in the 17th century and is the second largest town in British Empire. Dublin became the capital of Irish Free State after the partition of Ireland in 1922.

City council administers Dublin. It is listed by World Cities Research Network and Globalization as a global city with a ranking of Alpha. Dublin is historic and a major centre for arts, education, industry, administration and economy.

History

During 18th century, Dublin city grew more rapidly because many districts and buildings were added. Districts added was Merrion Square, Royal Exchange and Parliament House. In 1757 beginnings of City Corporation was created. In 1759, Ireland’s famous Guinness Stout was first brewed. In 1779 Grand Canal was built and in 1786 police force was established. At the end of the century, Kilmainham Goal and O Connell Bridge was built. The population was grown to 180,000 in 1800. Overpopulation brought poverty and diseases.

In 19th-century street lighting was introduced in Dublin. Dublin suffered economic as well as political decline. Things changed rapidly in the 20th century with 1916 Easter Rising. Dublin was setting for many significant events during Irish struggle for independence. In mid-1990’s economic boon in Dublin brought massive expansion and development to the city. It included the creation of Dublin’s new landmarks, Spire monument on O Connell Street. Dublin is the only largest conurbation in Ireland. In Greater Dublin Area 1.2 million people live. This area population comprises 28% of country’s total population.

The boom brought many new ethnic groups in the city and created an international feel in the north inner city.

Economy

Ireland Economic Centre is Dublin. During Celtic Tiger period in 2009, Dublin was at the forefront of country’s economic expansion. Dublin is listed as the fourth richest city in the world by power and 10th richest by personal income. It is also a 13th most expensive city in the European Union and 58th expensive place to live in the world. Around 800,000 people employed in Greater Dublin Area. Out of this population, 600,000 were employed in the service sector and 200,000 in an industrial sector.

Various traditional industries in Dublin like food processing, brewing, textile manufacturing and distilling declined. In 1990’s Dublin attracted a various global information, communications and pharmaceutical technology companies. Companies like Amazon, Google, Paypal, Microsoft, Facebook, Twitter, Accenture, Yahoo!, eBay and Pfizer now have headquarters and operational bases in Dublin. Various enterprise clusters like Silicon Docks and Digital Hub are located in this city.

After the establishment of Dublin’s International Financial Services Centre in 1987, financial services became important to Dublin. Under IFSC programme, 500 operations were approved. This centre is also host to world’s top 20 insurance companies and top 50 banks. Various international firms established their headquarters in a city like Citibank and Commerzbank. Irish Enterprise Exchange, Internet Neutral Exchange and Irish Stock Exchange are located in Dublin.