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 Plymouth

Plymouth

Plymouth is a city located on the south coast of Devon, England. Plymouth is 37 miles south-west of Exeter and 190 miles west south- west of London between river Plym and Tamar's mouths.

Throughout Industrial Revolution, Plymouth grew as commercial shipping port handling imports and passengers from America. Plymouth port also export local minerals like copper, lime, china, clay, tin and arsenic. Neighbouring town Devonport became Royal Naval Shipbuilding and dockyard town. In 1928 Plymouth achieved city status. In mid-2015, the city is home to 262,700 which makes it 30th most populous area in the United Kingdom. Plymouth is the second largest in Southwest after Bristol. Plymouth City Council governs Plymouth, and it is represented by three MP’s. The economy of Plymouth is influenced by seafaring and shipbuilding including ferry links to Spain and Brittany. In Western Europe large operational naval base HMNB Devonport is located. Plymouth is home to Plymouth University.

History

Plymouth had a population of 107,000 in the year 1901. In 1914 the two towns Devonport and Stonehouse were merged with Plymouth. Slum clearance started in Plymouth after World War 1. Slum housing was stopped and replaced by council housing in Swilly and New Prospect. By 1928, new 802 houses were built. In 1920 motor buses started in Plymouth and then got replaced by trams. Due to dockyard in Second World War Plymouth was a prime target for bombing. Around 3754 houses were damaged, and more than 8000 were severely damaged. Later slums were replaced with better flats and houses. Later in the 20th century, various houses were built at South way and Egg Buckland. In Plympton and Plymstock many private houses have been constructed. In the 21st century, Plymouth is flourishing. Drakes Circus shopping was remade in 2006, and now the population of Plymouth is 240,000.

Education

The University of Plymouth has enrolled around 23,155 students as of 2015 and 2016. It has 3000 staff and income of around £160 million. Main courses in it include business, marine biology, marine engineering, shipping and much more. The University of St Mark and St John was also known as Marjon or Marjons have expertise in teacher training. These universities offer various training courses across the country as well as abroad. This city is also home to two other large colleges. City College of Plymouth provides courses from basic to foundation degree for various students. Plymouth College of Art offers courses on media. It is only one of the four independent colleges of art and design in the UK.

There are 71 state primary phase schools in Plymouth and 13 state secondary schools. Plymouth has eight special schools, three selective state grammar schools and independent school.

This city is also home to Royal Naval Engineering College that was opened in 1880 in Keyham. It was renamed Dockyard Technical College in 1959. Later training was shifted to the University of Southampton. Marine Biological Association of UK is also located in Plymouth.