The PM Solutions Australia applied MoV® best practice guidance, is aimed at anyone involved in directing, managing, supporting and delivering portfolios, programmes and projects. MoV® is all about maximising value in line with the program and project objectives and the key stakeholder requirements. It is not simply about minimising costs. MoV® supports the project, portfolio, programme and risk management principles of PRINCE2®, MoP®, MSP® and M_o_R®, but its main focus is on maximising value.
Management of Value assurance provides essential framework and guidance on the most efficient use of resources to maximise the benefits ‘from portfolios’, ‘programs’ and ‘projects’. MoV® combines a set of principles, processes and techniques. MoV® has evolved from the tried and tested successful practice of value management used across many sectors and over many years. At the portfolio level, it reflects the organisation’s strategic objectives and sets the agenda for the programs that deliver these objectives which, in turn, defines the programs and projects undertaken to achieve the required outputs.
Management of Value assurance provides essential guidance on the most efficient use of resources to maximise the benefits from portfolios, programs and projects.
MoV® proposes a definition of value that embraces both monetary and non-monetary benefits, and argues that the subjectivity of value increases the need for it to be actively managed. It provides a method, supported by techniques, for allocating scarce funds as effectively as possible. MoV® has evolved from the practice of value management across many sectors, over many years.
The MoV® methodology includes four integrated concepts:
MoV® has evolved from the practice of value management across many sectors, over many years. MoV® helps to deliver more of the right things, for less and leads to more effective use of available resources. When times are good, the demand is to deliver more with less to remain competitive. In leaner times, the demands are for cutting costs in a manner that inflicts as little harm as possible. In some circumstances, value may be added by stopping certain activities or projects. MoV provides a way of addressing this in an objective and auditable manner.
The MoV® method shares with Lean (and, to a lesser extent, Six Sigma) the principles of involvement of the customer, elimination of waste and greater efficiency. But where Lean and Six Sigma focus on efficient delivery, MoV is more focused on efficiency, effectiveness, and economy.
MoV® provides essential guidance on the most efficient use of resources to maximise the benefits ‘from portfolios’, ‘programs’ and ‘projects’. MoV® combines a set of principles, processes and techniques.
The MoV process delivers defined benefits in the management of value across organisations:
PM Solutions Australia is an accredited AXELOS Consulting Partner and able to provide quality assured consulting services relating to the AXELOS best practice portfolio products including PRINCE2®, PRINCE2 Agile®, MSP®, AgileSHIFT®, MoP®, P3O® and P3M3® Maturity Modelling. PM Solutions Australia constantly demonstrates their commitment to global best practices through its accreditation by AXELOS, with our customers confident in our credibility and authority to assess their business and practices areas.Learn more
Doing the right things and doing those things right!
A portfolio management framework, helps organisations make decisions about implementing the right changes to their business as usual activity via projects and programs. The portfolio management framework and portfolio management discipline, is not concerned with the detailed management of these projects and programs; rather, it approaches the management of change projects and programs from a strategic viewpoint.
PM Solutions Australia provides portfolio maturity services as a certified P3M3® Consulting Partner. These certifications allow our experienced P3M3® consultants to provide a quality assured assessment of the process employed, the competencies of people, the tools deployed and the management information used to manage and deliver improvements.
P3M3 allows an assessment of the process employed, the competencies of people, the tools deployed and the management of information used to manage and deliver improvements. This allows organisations to determine their strengths and weaknesses in delivering change.
Find out how PM Solutions Australia can assist in value management across your organisation.