Management of Value – MoV
Value Management is a new set of guidance from Best Management Practice. The guidance set includes both a practitioner guide and a pocket book. The practitioner guidance will be supported by a qualification scheme.
MoV: Overview and Benefits
The pursuit of obtaining real value for money poses major problems for organizations that need to meet increasing demands to reduce fi nancial resources. The fi rst problem is that assessment of value is subjective and dependent on the needs of the consumer. This problem is not new and maximizing value is rarely done successfully.
Management of Value 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.
How does MoV work?
The guidance is structured around principles, themes and processes:
- The principles are based on tried-andtested practices, and successful value management is unlikely to be achieved if these are not adopted
- The themes are continuous activities that need to be carried out to ensure the application of the principle delivers the promised value
- The set of processes define the structure of the approach and use specialist techniques to supplement the business case. They provide a practical approach to getting results
To view testimonials and case studies from those organisations that have adopted Best Practice guidance visit Best Practice Users.
