FAC - PPM Entry-Level Resident Course
Acquisition Plan - Answer-A comprehensive plan for fulfilling the agency need in a timely manner and at
a reasonable cost. It includes developing the overall strategy for managing the acquisition.
Actual Cost (AC) - Answer-The cost actually incurred by accomplishing project work
Affordability Assessment - Answer-Comparison of costs to benefits over a specific period of time
Analysis of Alternatives (AoA) - Answer-Analysis conducted to help choose among alternatives to
achieve a balanced, supportable, robust, and cost-effective solution (Fundamentals of System
Acquisition; U.S. Air Force, 2008, p. 5)
Business Case - Answer-A compelling argument for undertaking a project
Capability Gaps - Answer-Missing knowledge, skills, resources, and leadership that prevent an
organization from addressing its need to meet its goal
Change Management - Answer-Process defining how requested changes to the project scope, schedule,
budget or resources will be controlled, changed and or approved.
, Configuration Management Plan - Answer-Plan identifying what problems can be fixed at what level,
and who approves what at what level. Provides a traceable record of how the design evolved
Cost-Benefit Analysis - Answer-Compares the financial cost of developing, implementing, and
maintaining the concept against the predicted benefits the concept will provide to an organization
Cost Performance Index (CPI) - Answer-A measure of the cost efficiency of budgeted resources. Cost
performance index equals earned value divided by actual cost. A CPI greater than one means a project is
under planned cost while a CPI over cost means a project over planned cost.
Cost Variance (CV) - Answer-The difference between earned value and actual cost (CV=EV-AC). A positive
cost variance means a project is under planned cost, while a negative cost variance means a project is
over planned cost.
Earned Value (EV)a - Answer-The money budgeted for work that has actually been completed.
Earned Value Management (EVM) - Answer-Technique that uses the scope, cost, and schedule baselines
to forecast, monitor, and control project performance
Independent Government Cost Estimate (IGCE) - Answer-The IGCE is the Government's estimate of the
projected cost of the resources a contractor will incur in the performance of a contract
Integrated Project Team - Answer-A cross-functional team of people, led by a PM, that works together
to develop strategies and approaches to meet specific acquisition and program objectives
Manpower Estimate - Answer-Describes the effect of implementing a concept to address a capability
gap in terms of which personnel are affected, the labor-hours and additional skills required to develop
and support the concept, and when in a project's lifecycle these personnel resources will be required
Acquisition Plan - Answer-A comprehensive plan for fulfilling the agency need in a timely manner and at
a reasonable cost. It includes developing the overall strategy for managing the acquisition.
Actual Cost (AC) - Answer-The cost actually incurred by accomplishing project work
Affordability Assessment - Answer-Comparison of costs to benefits over a specific period of time
Analysis of Alternatives (AoA) - Answer-Analysis conducted to help choose among alternatives to
achieve a balanced, supportable, robust, and cost-effective solution (Fundamentals of System
Acquisition; U.S. Air Force, 2008, p. 5)
Business Case - Answer-A compelling argument for undertaking a project
Capability Gaps - Answer-Missing knowledge, skills, resources, and leadership that prevent an
organization from addressing its need to meet its goal
Change Management - Answer-Process defining how requested changes to the project scope, schedule,
budget or resources will be controlled, changed and or approved.
, Configuration Management Plan - Answer-Plan identifying what problems can be fixed at what level,
and who approves what at what level. Provides a traceable record of how the design evolved
Cost-Benefit Analysis - Answer-Compares the financial cost of developing, implementing, and
maintaining the concept against the predicted benefits the concept will provide to an organization
Cost Performance Index (CPI) - Answer-A measure of the cost efficiency of budgeted resources. Cost
performance index equals earned value divided by actual cost. A CPI greater than one means a project is
under planned cost while a CPI over cost means a project over planned cost.
Cost Variance (CV) - Answer-The difference between earned value and actual cost (CV=EV-AC). A positive
cost variance means a project is under planned cost, while a negative cost variance means a project is
over planned cost.
Earned Value (EV)a - Answer-The money budgeted for work that has actually been completed.
Earned Value Management (EVM) - Answer-Technique that uses the scope, cost, and schedule baselines
to forecast, monitor, and control project performance
Independent Government Cost Estimate (IGCE) - Answer-The IGCE is the Government's estimate of the
projected cost of the resources a contractor will incur in the performance of a contract
Integrated Project Team - Answer-A cross-functional team of people, led by a PM, that works together
to develop strategies and approaches to meet specific acquisition and program objectives
Manpower Estimate - Answer-Describes the effect of implementing a concept to address a capability
gap in terms of which personnel are affected, the labor-hours and additional skills required to develop
and support the concept, and when in a project's lifecycle these personnel resources will be required
