What is provided by a Value Improving Proposal (VIP)?

A Value Improving Proposal (VIP) is a formal, structured document created during the Management of Value (MoV) process. Its primary purpose is to present a fully developed and justified case for change to decision-makers. It consolidates selected ideas, detailing the expected benefits, costs, risks, and impacts. This comprehensive information enables stakeholders to make an informed judgment on whether to accept the proposal for full or partial implementation, or to reject it. The VIP is fundamentally a decision-making tool.

B. A detailed record of the existing situation is an input to the MoV study (e.g., from function analysis), not the primary output provided by the VIP itself, which focuses on the proposed improvement.

C. This is too restrictive. While Senior Management are often the decision-makers, the information is for the decision itself, which may be not to implement. Option A is broader and more accurate.

D. A VIP typically contains an outline implementation plan to assess feasibility, but a detailed plan is usually developed only after the proposal has been formally approved by decision-makers.

1. AXELOS. (2010). Management of Value (MoV). The Stationery Office (TSO).

Section 6.4.5, 'Develop VIPs': This section describes the purpose of the step: "The purpose of this step is to develop the selected ideas into fully-worked up proposals that provide the decision-makers with the information they need to decide whether to implement the proposals." This directly supports option A.

Appendix C, 'MoV Products', Section C.10, 'Value Improving Proposal': This section outlines the purpose of a VIP as presenting "a proposal for improving value to the project, programme or portfolio board for a decision on whether to implement it." It lists contents such as benefits, costs, and risks, all of which are information for decision-making.