FPM 133 : Fundamentals of Business, Cost & Financial Management

FAC-P/PM Program Entry Level

FPM 133   |   3 Days (24 Hrs.)

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On-Site Training

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Designed specifically for professionals earning their Entry/Beginner level FAC-P/PM certifications, FPM 133 is fully FAI-verified as meeting all OFPP / FAI v2.1 Peroformance Outcomes for the "Business, Cost Estimating, and Financial Management” Competency. This course introduces students to the basic concepts and fundamentals they need to effectively estimate, analyze, and manage an acquisition’s finances.

Course Overview

Educational Focus

This course is focused on the fundamental Cost Estimating and Earned Value Management (EVM) terminology and concepts that the students will encounter in their day-to-day jobs, including:

  • Cost Estimating and cost analys
  • Formulating financial programs and budgets
  • Benefit/Cost analysis and other decision-making tools
  • Total Ownership Cost
  • Knowledge of the rules of budget execution
  • Overseeing and interpreting data from an Earned Value Management System (EVMS) and other methods of performance measurement

ALTA Learning Methodology

In addition to lecture and Q&A, this class provides a true adult learning experience by utilizing various other teaching modalities:

  • Students use an extensive self-assessment tool throughout class to determine personal and organizational strengths and weaknesses.
  • Students practice the skills they are learning throughout the course through the use of various experiential, hands-on Exercises.
  • Students demonstrate their knowledge by answering review questions at various times during the class and by passing an end of class exam.

Who Should Attend

  • New Project Managers with less than 1 year experience in Federal Project Management
  • Those responsible for basic, low-risk projects

FAC-P/PM Competencies Addressed

Fully verified by FAI, FPM 133 covers all learning objectives for the FAC-P/PM Entry-level “Business, Cost Estimating, and Financial Management” Competency.

FAC-P/PM Competency Mapping

PPM-103 Competency Mapping

Course Topics & Modules

  • I. Why Are We Here
    • Program background and introduction
    • Current OMB and Presidential initiatives
    • Self-Assessment tools
  • II. Capital Programming, Financial Planning, and Budgeting
    • Discuss elements of:
      • Capital Programming Guidance (OMB A-11)
      • Understanding the financial aspects of Total Life Cycle Systems Management
      • Benefit-cost analysis and Net Present Value (OMB A-94)
  • III. Federal Appropriations Management
    • Be aware of the appropriate use of funds from different appropriations
    • Understand the Anti-deficiency Act and other statutory requirements
  • IV. Business Case and Life Cycle Cost Estimate Analysis
    • Be aware of Total Ownership Cost and Life Cycle Cost elements
    • Understand the use of appropriate estimating techniques
    • Be aware of challenges in dealing with risk and uncertainty in business cases
  • V. Nature and Terminology of Cost Estimating
    • Understand the challenges of establishing a credible estimating process
    • Recognize the 12 Steps of a credible cost estimating process
    • Learn how to accommodate risk and uncertainty in cost estimates
  • VI. Earned Value Management (EVM)
    • Review the 32 Guidelines used to evaluate an Earned Value Management System
    • Understand the 13 Steps to effective Earned Value Management
    • Explore Earned Value metrics and indicators of acceptable and unacceptable performance
    • Understand the use of Integrated Baseline Reviews (IBR) to assess program performance
  • VII: Student Assessment
    • Students will demonstrate their understanding of the material covered in the class by passing an end of course exam and updating their assessment of competency in meeting the prescribed performance objectives

Training Hours/Credits Earned

Standard Class Hours
8:00 a.m. to 4:30 p.m.

Credits Earned
24 CLPs
24 PDUs (Course approved by PMI® and is eligible for PDU credit)
2.4 CEUs

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