In the Start Up or Inception stage of a project, the primary focus is on establishing whether the project is viable, desirable, and achievable. A Management of Value (MoV) study conducted at this point aims to clarify strategic objectives and identify the key value drivers. The main output of this study is critical information that is used to create, develop, and strengthen the outline Business Case. This ensures that the justification for the project is based on a clear understanding of the value it is expected to deliver, enabling senior management to make an informed decision on whether to proceed.

A. Information to clarify a viable Brief is an input and part of the process, but the improved Business Case is the main formal output that results from this clarification.

B. A detailed functional definition of the project is developed during a later stage (e.g., Definition or Planning), once the project has been approved based on a robust Business Case.

D. Maximized value is the overall goal of applying MoV throughout the entire project lifecycle, not a specific output of the initial Start Up stage.

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

Section 5.3.1, Table 5.1 'Application of MoV during the programme/project lifecycle': For the 'Concept' (Start-up/Inception) phase, a key MoV activity listed is to "Inform the Business Case". The output is a "clear understanding of value" which directly supports the Business Case.

Section 5.3.2 'Concept': This section states, "The main output from this stage is an outline Business Case... MoV has a major role to play in informing the Business Case by helping to answer the question 'Are we doing the right project?'" (p. 42).

Appendix C, 'The Business Case': "The Business Case provides the justification for the investment to which the organization is committing... MoV can be used to improve the quality of the Business Case." (p. 127).