Management of Value (MoV) Foundation 2 Days Training in Seoul
Course Description: 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. Course Topics: Course 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 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 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 Learning Goals: ● 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. Course Agenda: Day 1 ● Introduction to value management and MoV ● MoV principles ● MoV processes ● MoV techniques ● Recap Day 1 Day 2 ● Common techniques used in MoV ● Approach to implementation ● Environmental factors ● Embedding MoV into an organization ● MoV products ● MoV toolbox ● MoV health check and maturity model ● Recap Day 2 Who can Attend? 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
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