FPM 233 : Applications in Business, Cost & Financial Management

FAC-P/PM Program Mid Level

FPM 233   |   3 Days (24 Hrs.)

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On-Site Training

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Designed specifically for professionals earning their Mid/Journeyman level FAC-P/PM certifications, this course further develops and refines students’ fundamental skills to help them more effectively estimate, analyze, and manage an acquisition’s finances.  FPM 233 is fully FAI-verified as meeting all OFPP / FAI v2.1 Performance Outcomes in the "Business, Cost Estimating, and Financial Management" Competency.

Course Overview

Educational Focus

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

  • Cost estimating and cost analysis
  • Formulating financial programs and budgets
  • Using Benefit/Cost Analysis and other decision-making tools
  • Understanding Total Ownership Cost
  • Overseeing and interpreting data from an Earned Value Management System (EVMS) and other methods of performance measurement
  • Following and abiding by the various rules of budget execution

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 creating and presenting personalized end-of-class Action Plans, which provide a structured path to quickly transfer classroom concepts to their work environments.

Who Should Attend

  • Project Managers with 1 to 2 years of experience in Project Management
  • Those responsible for medium-sized, moderate-risk projects.

FAC-P/PM Competencies Addressed

Fully verified by FAI, FPM 233 covers all learning objectives for the FAC-P/PM Mid-level “Business, Cost Estimating, and Financial Management” Competency.

FAC-P/PM Competency Mapping

PPM-203 Competency Mapping

Course Topics & Modules

  • I. Why Are We Here?
    • Current OMB and Presidential initiatives
    • Program agenda
  • II. Capital Programming, Financial Planning, and Budgeting
    • Assess compliance with:
      • 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)
      • Capital Asset Plan and Business Case Summary (OMB Exhibit 300 and 53)
  • III. Federal Appropriations Management
    • Confirm the appropriate use of funds from different appropriations
    • Ensure compliance with Anti-deficiency Act and other statutory requirements
  • IV. Business Case and Life Cycle Cost Estimate Analysis
    • Ensure optimization of Total Ownership Cost  and  Life Cycle Cost
    • Evaluate the use of the appropriate estimating techniques
    • Assess the team’s effectiveness in dealing with risk and uncertainty
  • V. Nature and Terminology of Cost Estimating
    • Ensure compliance with the 12 Steps to a credible cost estimate
    • Confirm the appropriate use of the methods, techniques, and analytical principles, including risk management and confidence bands
  • VI. Earned Value Management (EVM)
    • Use the 32 Guidelines to evaluate the Earned Value Management System
    • Assure effective implementation of the 13 Steps to effective Earned Value Management
    • Evaluate Earned Value metrics and indicators of acceptable and unacceptable performance
    • Oversee the use of Integrated Baseline Reviews (IBR) to assess program performance​
  • VII. Student Action Plan Presentation
    • Students will demonstrate their understanding of the material covered in the class by presenting an oral Action Plan describing the improvements they intend to implement upon returning to work

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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