FAA was founded in Vienna in 1993 by Dieter Biron and partners.

Initially, the company focused on the design and delivery of practice-oriented training and professional development programs for private-sector companies.

Following Austria’s accession to the European Union in 1995, the country gained direct access to EU reform and funding initiatives. In the same year, FAA successfully secured several international contracts. The company's early international activities focused on government advisory services, EU accession support, legal harmonization, and institution-building projects in EU candidate countries.

In 1997, FAA acquired two well-established training organizations of the Federation of Austrian Industries: MDI – Management Institute of Industry and SPIDI – Language Institute of Industry. After a two-year restructuring of their organizational structures and service portfolios, both companies were sold through a management buyout in 1999.

Since 1999, FAA has expanded its activities to include the management of organizational change, particularly in the context of public administration reforms, mergers, and restructuring processes. FAA experts assume overall responsibility throughout the entire project lifecycle—from analysis and concept development to implementation and evaluation.

In 2001, the Austrian Federal Ministry of Economic Affairs and Labour entrusted FAA with the administration of the EQUAL programme for the Austrian labour market, financed by the European Social Fund, under a seven-year outsourcing contract. Following an outstanding evaluation by the European Commission, FAA was awarded additional contracts by several Austrian federal ministries.

Since 2002, FAA has supported various government initiatives, including aed – Agency for Economic Cooperation and Development, promoting the export of Austrian best practices and the transfer of international best practices to Austria.

Building on years of successful cooperation with public institutions and major corporate clients—many partnerships spanning decades—and numerous professional recognitions, FAA now operates at the interface between the public and private sectors.

Public sector reform projects supported by FAA have frequently served as catalysts for follow-up projects involving private industry.

Since 2012, FAA has had framework agreements with aed – Agency for Economic Cooperation and Development for consulting and project management services.