Management of Value (MoV) focuses on improving benefits and reducing expenditure to speed up delivery without impacting essential project scope or service quality. It is not simply about minimising costs. MoV is all about maximising value in line with program or project objectives. It captures key stakeholder requirements for what products should do rather than what they are.
The management of value is essential to effective policy making, programs, projects, service reviews or product redesigns. Therefore MoV is vital to Business as Usual and P3M environments, providing an audit trail of how optimum value has been achieved.
•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
Upon completion of an MoV course candidates should be able to discuss and explain: •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.
Upon successful completion of this course, you will be able to: •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
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