FPM 133: Fundamentals of Business, Cost and Financial

Description

Designed for individuals earning their Entry/Beginner level FAC-P/PM certifications, FPM 133 is fully FAI-verified as meeting all OFPP / FAI v2.1 for the “Business, Cost Estimating, and Financial Management” Competency. This course introduces students to scheduling and cost control for Federal Government projects and provides participants with the information to estimate cost and time input to generate a WBS and then monitor projects using earned value management.

Learning Objectives

• Program background and introduction
• Discuss elements of:
  • Planning, Programming, Budgeting, Execution (PPBE)
  • Understanding the financial aspects of Total Life Cycle Systems Management
• Federal Appropriations Management
  • Be aware of the appropriate use of funds from different appropriations
  • 5 phases of appropriation life cycle
• Project Life Cycle
  • Phases of the project life cycle
  • Be aware of challenges in dealing with risk and uncertainty in business cases
• Cost Estimating
  • Work breakdown structure (WBS)
  • Understand the challenges of establishing a credible estimating process
  • Understand the use of appropriate estimating techniques
  • Learn how to accommodate risk and uncertainty in cost estimates
• Earned Value Management (EVM)
  • Explore Earned Value metrics and indicators of acceptable and unacceptable performance
  • Understand the use of Integrated Baseline Reviews (IBR) to assess program performance

Course Details

• Course Length – 3 days
• Graded Materials Include: Attendance of all Instructional Hours, Participation, Course Exercises, and Assessments

*It is recommended that FAC-P/PM courses are taken in order.