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 Wakefield

Wakefield

In West Yorkshire, England, Wakefield is located. Wakefield is on the River Calder and Pennines eastern edge. In 2001 Wakefield had a population of around 77,512. It increased for five Wakefield wards called East, North, South, West and Rural to 77,512 according to 2011 census. Wakefield is also dubbed as ‘ Merrie City’ in Middle Ages. John Leland in 1538 described it as ‘ A quick market town and large and meately large. It is also a well-served market of fish and flesh from sea and rivers so that vital is good and cheap there. Wakefield Battle took place in Wars of the Roses. Wakefield became a famous centre for wool and a market town. In the 18th century, Wakefield made a trade in corn and textiles. In 1888 parish church of Wakefield acquired Cathedral status. It also became a county town of West Riding of Yorkshire. It was the seat of West Riding County Council from 1889 till 1974.

History

Along with railroad, many streams and lakes also played a significant role in economic growth of Wakefield. There were many damn and around twenty mill sites that include fulling mills, gristmills and carding mills along these waterways. Due to this development growing population expanded in seven separate villages, East Wakefield, South Wakefield, North Wakefield, Burleyville Wakefield corner, Sanbornville and Union. Sanbornville villages are now the primary business centre in Wakefield. The new town hall was constructed in Sanbornville in 1895. From Lovell lake , ice was shipped and harvested by two companies with the help of 16 to 20 train carloads to Boston and beyond it every day. At the beginning of 1900’s railroading was to the extreme with 25 trains in and out of Sanbornville every day.

In 1911, due to fire various rail yard buildings burned and operations centre shifted to Dover. After the emergence of electrification, need for ice reduced. The Later popularity of automobiles further reduced the need for rail travel. Finally, in 1969, Snow train which was a passenger train, made its final run.

During Second half of 20th century, a major industry in Wakefield was the development of 11 lakes. Development of summer homes and services needed to be provided. This helped later to provide incomes to many Wakefield residents. It helped to retain the rural character of Wakefield for which Wakefield is known.

Education

Oldest school Surviving in Wakefield is Queen Elizabeth Grammar School, a boys school established in 1591 by Queen Elizabeth by Royal Charter. The original building is in Brook Street that is now the Elizabethan Gallery. In 1854, QEGS school was moved to Northgate. The school was administered by Governors of Wakefield Charities who also opened Wakefield Girls High School ( WGHS) located at Wentworth-street in 1878. Church of England opened National Schools that include St Mary’s in the 1840s and St Johns in 1861. Original St Austin’s Catholic School was opened in 1838. In 1846 Methodist School was opened on Thornhill Street. Eastmoor School previously Pinders Primary School is only opened by Education Act 1870 which is still open.

Wakefield College has origins in School of Art and Craft of 1868. It is today the primary provider of 6th form and further education in the area with around 10,00 part-time and 3000 full-time students. It has campuses in the surrounding towns as well as in the city. In 2007 Wakefield College and Wakefield City Council announced plans to create a University Centre of Wakefield but bid for funding failed in 2009. Other schools with sixth forms include QEGS, Cathedral High School which is now an Arts College for age 11 to 18 and Wakefield High Girls School.