Management of Value (MoV) Foundation: In-House Training

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.

Organize and contribute constructively to a Management of Value (MoV) Study

Demonstrate a knowledge of MoV principles, processes, approach and environment

Analyse a company, program or project to establish its organizational value; includes identification and weighting of Value Drivers

Pass the AXELOS MoV Foundation Examination

Value and Value Management

Capabilities, Outcomes, Benefits and Disbenefits

What is Value?

What is Management of Value (MoV)?

Why use MoV?

Where use MoV?

When MoV should be used?

What 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

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

Frame the programme or project

Gather information

Analyse information

Process information

Evaluate and select

Develop Value Improving Proposals

Implement and share outputs

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

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

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

Portfolio Considerations

Programme considerations

Project considerations

Operational Considerations

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

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)

P3M3 Maturity Model

MoV Maturity Model (aligned with P3M3)