New Management of Value Guidance from TSO and Examination from APM Group Will Help Organizations Do More With Less

HIGH WYCOMBE, England, Nov. 24, 2010 /PRNewswire/ -- APM Group http://www.apmg-international.com a global examination institute and accreditation body, has launched a foundation examination to accompany best management practice on Management of Value, published by TSO.

The guide and the APM Group foundation examination are aimed at organisations of all sizes and project and programme managers who wish to be able to deliver increased benefits, whilst simultaneously reducing or removing costs -- simply put, doing more with less.

At the launch of the publication, which took place at the BIS Conference Centre in London on November 4^th, David Pitchford, Executive Director, Major Projects Directorate, the Cabinet Office, said, "The publication of the MoV guidance is very timely and will make a real difference to organizations that need to deliver increased benefits while cutting or saving costs. Accountability is key in this current climate -- as professionals we must produce better outcomes."

Michael Dallas, the lead author of the best management practice guide, explained that MoV enhances competitiveness, productivity and profitability and it helps organizations eliminate wasteful practices. "MoV provides a way to cut non essential projects and services. It's got logic and it's got teeth -- it's about maximizing value in line with your objectives and key stakeholder requirements. It is not simply about minimizing costs, although it provides an extremely effective way to do this in a targeted and controlled manner."

Dallas explained that value is the ratio between satisfaction of needs (benefits) and use of resources (expenditure). He said it enhances, rather than competes with, other management methods that seek to achieve value. "It does not require more bureaucracy -- you can start with two men and a dog -- but management support should be proportionate to the circumstances."

Michael Graham, Chair of Institute of Value Management Certification Board, said, "The Institute of Value Management would like to express full support to APM Group for to this very worthwhile Cabinet Office initiative that we believe is a stepping stone to help public services face the challenges posed by the Comprehensive Spending Review.

"In our view the Management of Value initiative is wholly relevant to every type of public service from local and central government, healthcare and the emergency services.  This best management practice guide is also applicable to the private sector to improve competitiveness. For many years businesses around the world have used Value Management to strengthen competitiveness and profitability."

Graham said the IVM's global experience shows substantial public sector benefit with benefit to programme cost ratios of up to 100 to 1.  "For every $1 spent on Value Management, up to $100 benefits are being secured (see note below). Anecdotal evidence indicates similar returns in private sector.  The launch of this new Management of Value initiative is a great opportunity for British business and public service organisations to improve best management practice and boost economic performance by delivering more bang for the buck," he said.

The new Management of Value training initiative is administered by APM Group Ltd, the OGC's official accreditation organization and examiner for Portfolio, Programme and Project Management products.  

To further support the initiative, the IVM has decided that any trainer under the OGC-APM Group system who wishes to give a free copy of its magazine Value to each of his or her course delegates, will be sent copies on request to the IVM Secretary.  

Rounding off the launch Michael Dallas said, "How can you afford not to use Management of Value in the current circumstances?"

About Best Management Practice

Best Management Practice enables the publication of Best Management Practice Guidance including PRINCE2®, MSP®, P3O®, M_o_R®, M_o_P™ and ITIL®.

About the IVM

The Institute of Value Management (IVM) supports people and organisations that promote Value Management practice to generate economic advantages balanced with social and sustainable benefits.  

Over the past ten years Value Management Practice in Europe has been developed under the framework of the European Training and Certification System which aims to improve practitioner skills in line with the European Standard EN12973.  

The new Management of Value training is consistent with the basic theoretical knowledge requirements of the European Training and Certification System that is administered in the UK by the Institute of Value Management.  Advanced training converting knowledge into the practical application of Value Management and leading to Professional qualifications is delivered by IVM accredited trainers.  

USA Government data reports are available at www.fhwa.dot.gov/ve/vereport.cfm.  

Authors of the MoV Guide, Michael Dallas and Stephanie Clackworthy are past Chairs of IVM.  

About APM Group

The APM Group is a global Examination Institute offering accreditation and certification for knowledge-based workers. Our suite of certifications includes qualifications for project managers, IT service managers, risk managers and other knowledge-based workers.

SOURCE APM Group