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 FAC-P/PM FPM 233 training course offers the skills to conduct comprehensive program cost estimation, fund multiyear projects, and validate program baselines. Plus, this FPM 233 course will help you in achieving FAC-P/PM Mid-Level certification.
Learning Tree’s FAC-P/PM training has been fully verified by the Federal Acquisition Institute (FAI).
Applications in Business, Cost & Financial Management Delivery Methods
Applications in Business, Cost & Financial Management Course Benefits
In this FPM 233 course, you will:
- Apply commercial and governmental accounting, cost-estimation techniques, and Earned Value Management (EVM) techniques.
- Incorporate GAO Cost Estimating and Assessment Guide best practices.
- Learn how to perform business case analysis.
- Navigate the congressional appropriation process.
- Enhance performance with EVM, OMB A-11, and ANSI/EIA-748.
Prerequisites
Two years of program or project management experience within the last five years.
Certification Information
FAC-P/PM certification is awarded at the agency level, and requirements vary by agency.
Applications in Business, Cost & Financial Management Course Outline
- Clarifying the FAC-P/PM initiative
- Describing acquisition reforms
- Establishing a culture of accountability
- Identifying government and contractor equities
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
Analyzing cost-estimating methods
- Exploring appropriate uses of techniques
- Outlining the 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
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
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
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
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
Interpreting earned value metrics and meaning
- Explaining the source of the metrics
- Analyzing the measures and performing metrics analysis
Applying root cause analysis
- Defining the source of problems
- Dealing with the root cause at the source
- Defining responsibility and exploring possible actions
