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Our courses are intended for a global audience, with each one being completely customisable to suit the needs of the individuals it is being delivered to.

They can be delivered in London or in your home town. You decide.

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Project Finance Modelling 4 days

  • Corporate Finance, Financial Modelling, Risk and Credit
  • Duration: Four days
  • Information

    This is a comprehensive 3 day workshop to teach delegates how to design and build superior Project Finance models.


    We listen to our clients and develop quantitative workshops which are informative and add real value. All our workshops are 'hands-on' with theory and demonstrations followed by 'leaning by doing'. This ensures that we provide real-world methods and internationally recognised techniques that can be successfully implemented immediately after the workshops.


    Day 1 - Introduction and Overview

    Module 1: Introduction

    Overview of the course
    Common modelling errors
    Systematic Design Method
    Case study outline
    Practical: reviewing model examples

    Module 2: Model Template

    Starting position
    Model layout and design
    Required sheets
    Key Excel features and techniques
    Practical: producing a model framework using best practice

    Module 3: Production Forecast

    Production sales and volume
    Input prices and gross costs
    Practical: completing operating statements

    Module 4: Fixed Assets

    Depreciation of fixed assets
    Schedules and workings
    Practical: CAPEX and depreciation schedules

    Day 2 - Project Financing and Cash

    Module 5: Financing and Loans

    Loan drawdown
    Rate, terms and repayment
    Debt amortisation schedules
    Practical: Loans schedule with balance sheet and income statement inputs

    Module 6: Income Statement and Balance Sheet

    Adding income and balance sheet
    Model checks on consistency
    Dealing with any circular references
    Practical: completing and checking the initial statements

    Module 7: Tax and Dividends

    Taxation methods
    Tax shield
    Dividend method
    Practical: adding tax and dividend sheets

    Module 8: Cash Flow

    International cash flow
    Cash flow to equity and debt providers
    Error checking
    Practical: cash flow and returns

    Day 3: Ratios and DCF

    Module 9: Ratios

    Loan life / project life ratio
    Residual cover
    Annual debt service ratio
    Principal and debt cover
    Accounting ratios - profitability, liquidity, efficiency, structure
    Practical: ratios sheet

    Module 10: Cost of Capital

    Alternative theories – bonds and arbitrage pricing theory
    Discussion and agreement on WACC inputs
    Asset and equity betas and risk
    Mathematical derivation
    Practical: deriving beta from data and adding WACC to case

    Module 11: Discounted Cash Flow

    Methods of adding terminal value
    Producing a project/equity valuation
    Practical: adding DCF valuation

    Module 12: Auditing Techniques

    Internal and external methods
    Complete model audit
    Practical: Checking the model template

    Day 4 - Risk, Sensitivity and Optimisation

    Module 13: Macros and Automation

    VBA in Excel
    Writing macros
    Checking and auditing macros
    Automating workbooks
    Practical: adding navigation and table of contents

    Module 14: Risk and Sensitivity

    Adding risk techniques
    Scenarios and sensitivity
    What-if analysis
    Dynamic changes
    Practical: Adding sensitivity and scenarios

    Module 15: Optimum Structure and Targeting

    Achieving a target valuation
    Goal seek method
    Testing valuation with leverage and structure
    Practical: Targeting the case to improve structure and result

    Module 16: Management Summary

    Producing management summary
    Returns analysis
    Required model documentation
    Tracking changes

    Register interest

    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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