FPM 233 Training: Applications in Business, Cost & Financial Management

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).

FPM 233 Training: Applications in Business, Cost & Financial Management 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

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

Module 1: 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

Module 2: Applying Program Cost Estimation Processes

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

Module 3: 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

Module 4: 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

Module 5: 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

Module 6: 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

Module 7: Analyzing Earned Value Data

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