FPM 233: Applications in Business, Cost & Financial Management

Description

Designed for individuals earning their mid-level FAC-P/PM certifications, FPM 233 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

• Why Are We Here
  • Program background and introduction
• Earned Value Management General Points
  • Discuss elements of:
    • Earned Value (EV) Management (EVM) Defined
    • Significance of EVM
    • General Facts About EVM
    • Life Cycle of an Appropriation
• Business and Financial Management
  • Program and Project Costs
  • Direct vs. Indirect Costs
  • Business Case Development
  • Project Lifecycle
• 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, and Course Exercises, Exam
• SCC offers this course virtually through the following: Adobe Connect, Microsoft Teams, Zoom for Government, and Google Meets.

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