MoV® Practitioner

The MoV® Practitioner course provides the essential knowledge to the delegates to make optimum utilisation of available resources and increase the benefits arising from project, program and portfolio levels in the operational environment. The course equips the delegates with the fundamental knowledge required to implement MoV® principles and processes and maximise the return on investment and contribute to an improvement in decision making and policy making. The MoV® Practitioner qualification verifies the abilities and knowledge of the delegates to implement and tailor MoV® in a task-based scenario situation. During the two-day course, the delegates will learn the MoV® processes, MoV® principles, MoV® techniques and embedding MoV® within an organisation.

Value management provides an efficient structure and methodology that helps the individuals or organisations in achieving and enhancing business value and ensure an excellent quality of delivery. The MoV® Practitioner course provides advanced level certification and enables the delegates to increase the values across project, program, portfolios and operations. The courses introduce delegates to the MoV®  processes, principles and techniques and how MoV® activities should be applied for the whole project or program lifecycle.  The value management is complementary to project management and focused on elevating business value in line with objectives of the project. The Practitioner course builds on the knowledge gained at the Foundation level and enables the delegates to tailor and embed MoV® in the real scenarios within an organisation.

Vital MoV® Practitioner Exam Information

The delegates must pass the exam and achieve 50% to clear the Practitioner exam to gain the MoV® Practitioner certification. The exam checks the capabilities of delegates to carry out the specific tasks related to value management. The exam includes:

• Objective based testing/Multiple choice questions
• Eight questions having ten marks each
• Total 80 marks, all questions are worth one mark
• Open book exam
• Duration: 2.5 hours

An Introduction to MoV®

• Define value?
• What is MoV®
• The requirement of MoV®
• Requirement in the Cabinet Office Best Practice Guidance
• Understand its relationship to other management methods

MoV® Principles

• Adjustment with goals of an organisation
• Emphasis on functions and compulsory outputs
• Balance the variables to maximise the value
• Execute throughout the investment decision
• Tailor to suit the subject
• Learn from experience and strategies to improve performance
• Assign clear roles and responsibilities and build a supportive culture

MoV® Environment

• Classify internal and external factors affecting policies and procedures of MoV®
• Understand project, program, portfolio and operational environment

MoV® Method and Execution

• Describe general process around which a study can be organised
• Explain the relationships between the MoV® leader and the team

MoV® Embedding

• Brief the process of Embedding
• Key steps involved in embedding MoV®
• Describe the key benefits of embedding MoV®
• Requirement for allocating role and responsibilities while using MoV®
• Explain strategies to overcome barriers while implementation

MoV® Processes

• Design a program or project
• Collect the relevant Information
• Analyse Information
• Process Information
• Evaluation and Selection Process
• Develop value improving proposals
• Implement and communicate outcomes

MoV® Techniques

• Understand new techniques and strategies used in MoV®
• Information Gathering
  • Describe Benchmarks
  • What is Process Mapping?
  • Define Root Cause Analysis
  • Explain Discounted Cash Flow Analysis
• Constructing Ideas
  • Elaborate Brainstorming
• Evaluation and Option selection
  • Describe Choice Selection Matrix
  • Idea selection
    • Determine Idea Selection Matrix
    • Allocation to Categories
  • Weighting Techniques
    • What is Paired Comparisons?
    • What is Points Distribution?
  • Creating VIPs
    • Generating Suggestions
    • Understand Cost-Benefit Analysis
    • Building Decisions
  • Implementing VIPs
    • Implementing Plans
    • Gathering Feedback
  • Follow-up
    • Monitoring Benefits
  • Function Analysis
    • Define Function Analysis System Technique (FAST)
    • Customer FAST
    • Technical FAST
    • Traditional FAST
  • Understand Value Trees
  • Measuring value
    • Describe Value profiling (value benchmarking)
    • Define Simple multi-attribute rating technique (SMART)
    • What is Value metrics?
    • What is Value index?
    • Describe Value for money ratio
    • Understand Value Engineering / Analysis

Implementing MoV®

• Develop activities of MoV®
• Respond to Internal and External Factors
• Evaluate Project, Program and Portfolio considerations
• Understand Operational considerations
• Embedding MoV® into an organisation