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You Will Learn How To
- Apply commercial and governmental cost structures, cost-estimation techniques, and earned value management techniques
- Incorporate GAO Cost Estimating and Assessment Guide best practices
- Analyze logistical considerations and system design
- Effectively integrate learning curve theory techniques to manufacturing cost estimates
- Navigate the congressional appropriation process
- Enhance performance measures using earned value in the context of OMB A-11 and ANSI/EIA-748
Course Benefits Knowledge of federal budget appropriations, Total Life Cycle Systems Management, and OMB A-11 processes allow for improved transparency, accountability, fiscal discipline and performance. This course offers the skills to conduct comprehensive program cost estimation; fund multiyear, complex projects; and validate program baselines and integrated performance baselines.
Who Should Attend Project/Program managers and functional managers who are accountable for moderate to complex federal projects. Imperative for any acquisition professional seeking a Level II FAC-P/PM certification.
Workshop Course Through an immersive, simulated case study, you gain practical experience evaluating the development and implementation of a complex project management plan. Activities include:
- Recognizing elements of cost
- Developing a cost estimate for organizational use
- Identifying logistics considerations for planning
- Formulating a control account plan
- Participating in an integrated baseline review
- Analyzing performance data
Course U162 Content Introducing the FAC-P/PM Program
- Clarifying the FAC-P/PM initiative
- Describing acquisition reforms
- Establishing a culture of accountability
- Identifying government and contractor equities
Business Management Fundamentals
Incorporating Total Life Cycle Systems Management (TLCSM) concepts
- Comparing program life cycles
- Applying Total Life Cycle Systems Management
Identifying earned value management (EVM) fundamentals
- Reviewing EVM concepts
- Describing roles: customer vs. supplier
Applying Program Cost Estimation Processes
Analyzing cost-estimating methods
- Exploring appropriate uses of techniques
- Outlining strengths and weaknesses of each method
Examining the logistics of cost estimation
- Distinguishing between product life cycle vs. program life cycle
- Revealing often forgotten costs
Exploring learning curve theory and its applications
- Incorporating learning curves to reduce task time
- Examining learning curve models to determine learning rates
Allocating Funding to Multiyear Complex Projects
Structuring your project using the federal budgeting process
- Responsibilities of the PM in the budget process
- Applying cost estimates to select projects
Relating the congressional funding process to your project
- Explaining program approvals
- Defining project appropriations and allocations
Leveraging the ANSI/EIA-748 (Earned Value Management Systems)
OMB A-11 Section 300 Requirements
- The purpose of OMB Circular A-11
- Relating ANSI/EIA-748 to OMB Circular A-11
- Exploring connections between EVM and the performance budget
Defining the purpose behind the ANSI standard
- Explaining the structure of the standard
- Describing the use of the standard
Applying the ANSI standard
- Defining associated documents
- Addressing the guidelines within the standard
Establishing Baselines
Developing the program baseline
- Explaining the use of estimating and budgeting
- Associating the program baseline with budget
Determining the performance baseline
- Benefiting from the work breakdown structure
- Developing the Integrated Master Plan/Master Schedule
- Applying GAO best practices and the ANSI standard
Validating the Performance Baseline: the Integrated Baseline Review (IBR)
Clarifying the rationale for the IBR
- Explaining the mitigation of risk
- Analyzing the adequacy of the baseline
Preparing for and conducting the IBR
- Training the participants
- Accessing data and defining the report
Analyzing Earned Value Data
Interpreting earned value metrics and meaning
- Explaining the source of the metrics
- Analyzing the measures
- Performing metrics analysis
Applying root cause analysis
- Defining the source of problems
- Dealing with the root cause at the source
- Implementing corrective actions
- Defining responsibility and exploring possible actions
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