This 2-day interactive MoV Foundation course provides a modular and case-study-driven approach to learning Management of Value (MoV). The core knowledge is structured and comprehensive; and well-rounded modules cover the methodology and various techniques. A case study is used to help appreciate the relevance of MoV in its practical application.
Duration Learning Credits
2 days – 16 hours of 16 PDU’s
Session
Public Classroom Pricing:
Early Bird Price: AUD 1695.00
Regular Price: AUD 1795.00
Instructor-Led Virtual Live Pricing:
Early Bird Price: AUD 1295.00
Regular Price: AUD 1495.00
Private Group/ In-House Learning:
Have a group of 3 or more people?
Register yourself with a special pricing and
request the training exclusively
Introduction
● Introduction to value management and MoV
● Value and Value Management
● Capabilities, Outcomes, Benefits and Disbenefits
● What is Value?
● What is Management of Value (MoV)?
● Why use MoV?
● Where to use MoV?
● When MoV should be used?
● What does using MoV involve?
● Selected MoV benefits
● Relationship with other AXELOS Global Best Practices and Models
● How MoV fits with other AXELOS Global Best Practice Guides
MoV Principles
● Align with organization’s objectives
● Focus on functions and required outcomes
● Balance the variables to maximise value
● Apply throughout the investment decision
● Tailor MoV to suit the subject
● Learn from experience and improve
● Assign clear roles and responsibilities and build a supportive culture
MoV Processes
● Frame the programme or project
● Gather information
● Analyse information
● Process information
● Evaluate and select
● Develop Value Improving Proposals
● Implement and share outputs
Lunch
MoV Techniques
● Function Analysis
● Function Analysis System Technique (FAST)
● Traditional (or classic) FAST
● Technical FAST
● Customer FAST
● Value Trees
● Measuring value
● Value profiling (a.k.a. value benchmarking)
● Simple multi-attribute rating technique (a.k.a. SMART)
● Value index
● Value metrics
● Value for money (VfM) ratio
● Value Engineering / Analysis
Recap Day 1
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
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
● Learn lessons
Environmental Factors
● Portfolio Considerations
● Programme considerations
● Project considerations
● Operational Considerations
Lunch
● Embedding MoV into an organization
● Benefits of Embedding MoV into an organization
● MoV Policy
● MoV Policy – Composition
● Embedding MoV into an organisation – Key steps
● Suggested MoV Management Structure
● Overcoming barriers
● We do it anyway
● It takes up too much time
● We can’t afford to make the changes
● What’s in it for me?
● Don’t fix it if it ain’t broke
● Fixed returns on investment
MoV Products
● Briefing Meeting Agenda (A.1)
● Communications Checklist (A.2)
● Equipment list for an Effective Study/Workshop (A.3)
● Invitation to join the Study Team (A.4)
● Option Evaluation Matrix (A.5)
● Plan the Study (A.6)
● Recording Idea Selection (A.7)
● Reporting Study outputs (A.8)
● Scoping the Study (A.9)
● Study or Workshop Handbook (A.10)
● Value-Improvement Proposal Forms (A.11)
● Value Improvement Tracking Report (A.12)
MoV Toolbox
● MoV health check and maturity model
● P3M3 Maturity Model
● MoV Maturity Model (aligned with P3M3)
Recap Day 2
The course will be of benefit to all levels of management including:
● Corporate Managers – responsible for instigating MoV studies with a view to starting new programs or projects Program
● Managers – responsible for making sure programs deliver the best value solutions taking into account the views of the stakeholders
● Project Managers – responsible for delivering products from their projects that represent the best value for money solutions
● Operational Managers – responsible for undertaking MoV studies to assist in reviewing operational procedures and improving efficiency
● Any other professionals who have an interest or responsibility for Management of Value within their organization
● The main processes and techniques used within MoV and the reasons for using them
● How MoV may be applied at portfolio, program, project and operational levels
● The differences in applying MoV at different stages in a project and the expected outputs from a MoV Study at each stage
● The circumstances under which MoV should be used
● The concept of value and how value may be improved
● The main benefits arising from the use of MoV
● Approaches for implementing MoV
● How to respond to external and internal influences
● The principles of embedding MoV into an organization
● The key topics in document checklists, the toolbox, health check, organizational maturity and individual competence.