Financial Analysts, Investment & Evaluation Professionals, Business Development Planners, Mergers & Acquisitions Specialists, Accountants, Infrastructure Heads, Corporate & Structured Finance Teams, Joint Ventures Specialists, CFOs, Financial Directors

Intermediate-to-Advanced

Project Finance Advanced Modeling is a master-level class and focuses uniquely on project finance and its related modeling issues. After reviewing some basic elements of project finance, the participants are given a full suite of project documents and macroeconomic information that are indicative to any infrastructure project. Immediately following is a step-by-step procedure of building a complex equity case model. This phase of the course is to demonstrate how contracts dovetail and that nothing in project finance is mutually exclusive.

Once completed, the delegates review the model from a due-diligence analysis, usually taken from a lender's or third-party equity perspective. The final phase of this module uses sophisticated model techniques to help the practitioner price the deal. Special consideration is given to more advanced project-finance issues like liquidated damages analysis and appropriate security packages. The overriding theme of this specialty course is to use the model as a highly-developed financial analysis tool that reviews the appropriate risk-versus-reward profiles of project finance. Finally, the course demonstrates the power of Monte Carlo simulation analysis, creating a dynamic decision-making tool and elevating beyond simple static input and output spreadsheets. This is an advanced course and is geared to the intermediate-to-advanced delegate.

Part 1 - Project Finance versus Corporate Finance
Part 2 - The Role of the Model & Common Rules
Part 3 - The Risk Matrix
Part 4 - Introduction of a Project for Modeling
Part 5 - The Project Documents
Part 6 - The Assumption Page
Part 7 - Operations
Part 8 - Construction
Part 9 - Insurance
Part 10 - Taxes
Part 11 - Depreciation
Part 12 - Financing(s)
Part 13 - The Income Statement
Part 14 - The Balance Sheet
Part 15 - The Statement of Cash Flows
Part 16 - Equity Returns
Part 17 - Loan Values
Part 18 - "Pricing the Deal" and Scenario Analysis
Part 19 - Documenting Changes to the Model
Part 20 - Analysis of Liquidated Damages ("LD")

As with our all our financial modeling courses, this is a hands-on practical course, whereby the delegate takes our "learn by doing" approach. The course structure for each module follows a four-step pattern: 1) presenting the section material, 2) a spreadsheet exercise, 3) review of the exercise; then 4) follow-up with a question and answer session. Each successive session builds from the previous session. Each participant will be given exercise and review files to insure course fluidity, no matter the participants' background or level.

Participants go through the process of building a fairly complex model step-by-step using a series of project document tariff sheets and macroeconomic information. This phase takes an equity view of the model. Next, the course reveals the power of the model by applying it to different perspectives, such as that of project lenders or equity holders. The third phase of the course uses more sophisticated modeling techniques, such as tables, goal searches and Solver, as well as discussion of Monte Carlo simulations.

(NB: Prerequisite - A general knowledge of Excel, accounting principals and financial modeling is a minimum requirement for this course; particularly, the ability to generate a Statement of Cash Flows from an Income Statement and Balance Sheet. It is strongly suggested that those delegates with limited financial modeling experience consider taking Vair's Financial Statement Modeling and Analysis course)

Vair Training courses are held at world-class international venues. Registration fees include morning coffee/tea, networking lunches and afternoon refreshments. Course materials are provided electronically on-site. Detailed venue descriptions, times and logistics are included with post-registration materials and documents.