This 2-day interactive MoV Practitioner 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.
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 programme 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, programmes, 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.
The purpose of the MoV Practitioner level is to confirm that you have achieved sufficient understanding of how to apply and tailor MoV in a scenario. The experience of the individual, the level of support available, and the complexity of the situation to which MoV is to be applied will be factors that impact what the Practitioner can achieve.
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 programmes or projects
- Programme Managers – responsible for making sure programmes 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
- All other personnel who have an interest or responsibility for Management of Value within their organisation
The MoV Practitioner Course prepares you for the MoV Practitioner exam.
Individuals certified at the MoV Practitioner level will be able to:
- Apply Management of Value (MoV) principles, processes and techniques, and advocate the benefits of this application appropriately to the senior Management.
- Develop a plan of MoV activities for the whole lifecycle of small and large projects and programs.
- Plan an MoV study, tailoring it to particular projects or programs and developing practical study or workshop handbooks as required.
- Understand and articulate value in relation to organizational objectives.
- Prioritize value drivers using function analysis and use these to demonstrate how value might be improved.
- Quantify monetary and non‐monetary value using the Value Index, Value Metrics and the Value for Money ratio.
- Describe and comment on the application of various techniques relevant to MoV.
- Monitor improvements in value realized throughout a project lifecycle and capture learning which can be transferred to future projects.
- Offer suggestions and guidance about embedding MoV into an organization, including policy issues, undertake a health check, assess maturity and competence, and provide guidance on typical roles and responsibilities.
- Understand and articulate the use of MoV within other Best Management Practice methods and its contributions to them.
Benefits of Taking This Course:
Upon successful completion of this course, you will be able to:
- Organise and contribute constructively to a Management of Value (MoV) Study
- Demonstrate a knowledge of MoV principles, processes, approach and environment
- Analyse a company, programme or project to establish its organisational value; includes identification and weighting of Value Drivers
- Pass the AXELOS Practitioner Examination
- You are required to have passed the MoV Foundation exam in order to be certified at the Practitioner level.
- Function Analysis
- Customer FAST Diagram
- Value Tree Development
- Weighting Attributes
- Paired Comparisons
- Developing a Value Profile
- Developing a Value Index
- Value for Money Ratio
- Stimulating Innovation
- Value Engineering
- Option Evaluation and Selection
- Evaluation Matrix
- Value and Value for Money
- Timing and Planning
- Teams and Stakeholders
- MoV in the Organization
- Integrating with Best Management Practice
- Relationship between Process and Approach
MoV® is a registered trademark of AXELOS Limited.
The Swirl logo™ is a trademark of AXELOS Limited.
Exam Type (Paper & Web Based) : Pratitioner
Prerequisites : Foundation Certificate Self study is acceptable but training through an Accredited Training Organization is recommended
Passing Mark : 50% (40 out of 80)
Exam Time : 150′
Open book exam (MoV guide only)
Results : Web based – Immediate preliminary results
Paper based – 2 days after the exam paper is received by PEOPLECERT