Management of Value (MOV®) Foundation

The MoV Foundation training course is provided by Datrix Training where you will be taught by one of our experienced instructors. 

The main aim of the MoV® Foundation course is to maximise value through the economy, efficiency and effectiveness. By the completion of the course, the delegates will be able to understand the value management methodology comprising a unique set of techniques, principles and processes, clarify the objectives and value priorities of the organisation, how MoV® can be applied within an operational environment and tailoring and embedding of MoV® within their organisation. 

MoV® Foundation Exam

The MoV® Foundation course prepares the delegates in acquiring the MoV® Foundation certification. The delegates are expected to achieve 50% marks to pass the examination. Details of the exam as follows:

• 40 minutes in duration
• Multiple choice questions
• 50 questions total
• Closed book exam

This course covers following topics:

Overview of MoV®

• What is Value?
• Define MoV®
• Understand the requirement of MoV®
• Study relationship to other Management Methods

Seven Principles of MoV®

• Coordinate with Objectives set in the organisation
• Concentrate on Functions and Required Outcomes
• Enhance the value by balancing variables
• The Investment Decision
• Adjust to suit the Subject
• Learn From Past Experience and Enhance Performance
• Allocate Roles and Responsibilities
• Develop a Supportive Culture

MoV® Approach and Implementation

• Explain the generic process around which a study can be structured
• Describe the relationships between the MoV® leader and the rest of the team

MoV® Environment

• External and internal factors affecting MoV® policies and strategies
• Considerations for the portfolio, project, program and operational environment

MoV® Embedding

• Describe the embedding process
• Advantages of embedding MoV®
• Key steps involved in embedding MoV®
• Roles and responsibilities required while applying MoV®
• Reduce the weaknesses while implementation

The 7 MoV® Processes

• Design a Program or Project
• Collect required Information
• Analyse Information
• Process Information
• Assess & Select
• Create Value Improving Proposals
• Implement & Share Outcomes

Common techniques used in MoV®

• Analysis of information
  • Describe Benchmarking
  • Understand Process Mapping
  • What is Root Cause Analysis?
  • What is Discounted Cash Flow Analysis?
• Developing Ideas
  • Describe Brainstorming
• Evaluation and option selection
  • Describe Option Selection Matrix
  • Idea selection
    • Allocation to Categories
    • Idea Selection Matrix
  • Weighting techniques
    • Define Paired Comparisons
    • Define Points Distribution
  • Developing VIPs
    • Creating Proposals
    • Define Cost-Benefit Analysis
    • Developing Decisions
  • Implementing VIPs
    • Implementation Plans
    • Gathering Feedback
  • Following up
    • Monitoring Benefits

Implementing MoV®

• Devising activities of MoV®
• Respond To Internal and External Influences
• Describe Portfolio, Program and Project Considerations
• Explain Operational Considerations
• Embedding MoV® into an organisation

MoV® Techniques

• New methods used in MoV®
• Describe techniques and strategies used within MoV®
• What is Function Analysis?
  • Describe Function Analysis System Technique (FAST)
  • Understand Traditional FAST
  • What is Technical FAST?
  • What is Customer FAST?
• Describe Value Trees
• Measuring value
  • Define Value profiling (value benchmarking)
  • Simple multi-attribute rating technique (SMART)
  • Value index
  • Value metrics
  • Value for money ratio
  • Value Engineering / Analysis

Approach to Implementation

• Describe Generic approach to MoV® implementation
• Create the MoV® activities
• Understand and articulate value
• Prioritize value
• Improve value
• Quantify value
• Monitor improvements in value