What does FAC stand for in project management?

Question

Please explain the meaning of the term FAC in a project management context. I'm a project manager for 5 years and I've never heard (forget about used) of this term. How come there's always something that I don't know that ever existed in project management?

Answer 1

FAC stands for Forecast At Completion, the term FAC is usually associated with the task. So, the FAC of a task is how much we expect the task will cost (in our project schedule) once it's completed.

Answer 2

While it looks like it might belong with Earned Value acronyms, I believe this stands for Federal Acquisition Certification.  FAC is offered in the US through the Federal Acquisition Institute (FAI).