A Quick Glance

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    Supplement current management practices to increase the value delivered and make better use of resources

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    Give you a way of addressing reasonable advantage by adding value

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    Increase value in line with the programme, project objectives and key stakeholder requirements

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    Provide a way to define aims and scope clearly regarding the organisation’s and end users’ short and long term needs

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    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
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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.

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What Will You Learn

  • 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
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What's included

  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

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  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

 

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MoV® Foundation Enquiry

 

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Reach us at 02036 039666 or info@pentagonit.co.uk for more information.

About Milton Keynes

Milton Keynes

Milton Keynes also abbreviated as MK is a large town located in Buckinghamshire, England. It was designed as a new town on 23 January 1967 and also an administrative centre of Borough of Milton Keynes. It is located 45 miles that is 72 km away from north-west of London.

Various another town like Bletchley, Wolverton and Stony Stratford exist here along with other 15 villages and farmland. Milton Keynes took its name from existing “Village of Milton Keynes “that is few miles away from the planned centre.

History of Milton Keynes

Milton Keynes has a rich history with proof of human settlement that was found before starting the construction of this city in 1960’s. When UK government decided to establish Milton Keynes, most of the area was farmland, and undeveloped villages and the earlier history was incredibly rich. Until the 10th century, there was no evidence of occupation in villages. During middle age, 18 villages were present that still form the heart of Milton Keynes districts. With the arrival of London and Birmingham Railway and Grand Junction canal in late 18th and 19th century, the area went through many changes and the new town of Wolverton, and New Bradwell emerged.

The greatest change in the history of Milton Keynes was when it was chosen to solve housing problems in London. Milton Keynes was planned as biggest towns and have an area of 89 square kilometres that became home to around 250,000 people. In the beginning, no building was allowed to be tall than the tallest tree, and later Milton Keynes Partnership changed it. Tallest building in Milton Keynes is 14 floors high. Its population will double by the year 2026.

Milton Keynes offers a broad range of opportunities to people to learn new things and get a better education. Bletchley Park code breakers brought innovation to the city in second world war. This team cracked secret codes of Germans. Milton Keynes is a destination that is always passionate about developing minds. It contains some of the best schools and colleges. Milton Keynes College offers a wide range of courses in different domains. It is one of the fastest growing college in the United Kingdom.

Open University offers contemporary learning where degree level education is provided to everyone. The headquarters of the university is located at Walton Hall in Milton Keynes. There is also University Centre Milton Keynes ( UCMK) which is a hub for higher education with new facilities and exciting courses in the middle of the city. This town also contains a solar-powered house that plays a significant role in the development of electric transport. Various courses, classes and opportunities are offered by Milton Keynes Theatre Creative Learning department to young people and adults to explore theatres including makeup, drama, acting and much more.

Sport

Milton Keynes has various professional teams in football, in ice hockey and in Formula one. It is also home to Xscape indoor ski slope, Formula Fast Indoor Karting Centre, Airkix Indoor Sky Diving facility and National Badminton Centre.

Economy

At Borough level, data of Milton Keynes economy, demography and politics is collected. Milton Keynes is one of the most successful economies in Southeast along with gross value added per capita index which was 47% higher than the national average. According to 2015 data, average wages place it in top five nationally.

Just 0.6% of businesses employ people more than 250 which include Open University, Volkswagen Group, Mercedes-Benz and Network Rail. Remaining enterprises around 81.5% employ near about 10 people. Milton Keynes professional, technical and scientific sector contributes large employment. Milton Keynes has a high number of business start-ups in England and start-up levels remained high even during the period of recession 2009/2010. Most of the population is younger. 22.6% of Borough population is under 16, 12.1% are aged 65+. According to 2011 census report, Milton Keynes Urban area comprises of 8.7% South Asian, 78.4% white, 3.5% Mixed Race, 7-5% Black, 1.2% Chinese, 6.7% other ethnic group and Asian.

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