Successful projects rely on comprehensive, integrated management principles, tools, and techniques. In this FAC-P/PM Progressive Business, Cost & Financial Management certification training course, you gain the practical skills to coordinate the development of, oversee, evaluate and critique an Earned Value Management (EVM) program linked to risk management. This FAC-P/PM EVM course will also teach you to apply best practices in planning, programming, and budgeting.
Learning Tree’s FAC-P/PM training has been fully verified by the Federal Acquisition Institute (FAI).
Progressive Business, Cost & Financial Management Delivery Methods
Progressive Business, Cost & Financial Management Course Benefits
In this FPM 331 course, you will:
- Direct and manage the application of Earned Value Management (EVM) techniques to federal projects.
- Integrate technical, cost, and schedule performance measurements.
- Oversee the program cost-estimating and budget process.
- Institute EVM baselines and interpret EVM performance trends.
- Manage the Integrated Baseline Review (IBR) process.
Prerequisites
Four years of program or project management experience, which shall include a minimum of one year of experience on Federal programs and projects within the last ten years.
Certification Information
FAC-P/PM certification is awarded at the agency level, and requirements vary by agency.
Progressive Business, Cost & Financial Management Course Outline
The value of EVM
- Evaluating the importance of EVM and cost estimating
- Estimating the benefits of EVM and cost estimating
- Establishing a plan to implement advanced EVM and cost-estimating techniques
Assessing EVM readiness
- Evaluating advanced EVM Senior/Expert competencies
- Planning the resource needs for management
- Planning for an EVM program linked to risk
Improving performance
- Eliminating defects with BPR methods
- Instituting EVM baseline reviews
- Conducting financial planning and execution reviews
Analyzing the 12 critical steps
- Defining the purpose of the estimate
- Developing the plan and defining program characteristics
- Outlining ground rules and assumptions
- Developing a point estimate and comparing it to an independent cost estimate
Gathering data
- Identifying ground rules and assumptions
- Conducting sensitivity, risk, and uncertainty analyses
- Documenting the estimate
- Presenting the estimate for management approval
- Updating the estimate to reflect actual costs and changes
- Comparing methods of cost estimating
- Discussing life cycle cost-estimating methods
Adopting EVM policies and standards
- Translating an EVM legal and regulatory framework
- Recognizing and applying OMB policies
- Reviewing and applying ANSI/EIA-748 standards
- Understanding, assessing, and evaluating EVM methodologies
Implementing advanced EVM techniques
- Applying EVM to integrate technical, schedule, and cost performance
- Creating program status reports for stakeholders
- Interpreting graphic trend analysis
Conducting data analysis
- Evaluating the data selection
- Collecting, processing, maintaining, transmitting, and reporting data on financial events
- Supporting financial planning and budgeting activities
Improving complex reporting
- Accumulating and reporting cost information
- Reporting to senior management
Effective EVM and cost estimates to guide planning, programming, and budget systems processes
- Appraising the program budget development process
- Critiquing allocation of funds within appropriations categories
