ベストプラクティス・プロジェクトファイナンス・モデリング
本コースでは、堅牢で透明性の高いキャッシュフロー型モデルを構築し、感応度分析を行うための実践的なツールと、Excel操作の効率を飛躍的に高めるテクニックを習得します。
2日間のトレーニングの中で、経験豊富な講師の個別指導のもと、Forvis Mazarsの世界的に実証されたモデリング手法を用いながら、ゼロから自身のプロジェクトファイナンスモデルを構築します。本コースで学ぶモデリング原則と体系的アプローチは、以下の幅広い業界において適用可能です：
インフラ、鉱業、石油・ガス、電力、再生可能エネルギー、公益事業、不動産
*本コースは、英語のみでの開催となります。
This project finance modelling course will enable you to:
- Achieve consistent and accurate outputs using the Forvis Mazars Financial Modelling methodology
- Learn efficient modelling techniques to deliver more analysis, faster and more accurately
- Acquire specialised skills to build a flexible and powerful scenario manager to analyse your projects sensitivity to key drivers
- Master time saving techniques including scenario management and data tables
- Construct flexible debt repayment functionality and ratio analysis
Who should attend this course focused on project finance models?
This course will benefit anyone who needs to build, review or analyse project finance models. Typical attendees include Analysts, Managers, Senior Managers and Associate Directors.
Pre-course knowledge
No prior modelling knowledge is required, but participants should be confident using Excel. After registering, you’ll receive our Excel intro material to help you prepare for the course.
2 day duration
Course Agenda
Day One
Master proven techniques for best practice modelling resulting in better models built faster
- Learn to work with the powerful and easy to follow Forvis Mazars Financial Modelling methodology
- Discuss and identify good vs. bad modelling techniques using real-life examples
- Greatly increase consistency amongst your team in calculation technique and presentation
Discuss the life-cycle of a project finance model, from screening and structuring to financial close
- Learn the various structural phases of project finance. Understand when to use which phase
- Build your understanding of the building block components, key details and challenges of a transaction model
- Understand the design flow of the model builder, learn how to know where to go next
Develop a model structure that is robust and scalable that can evolve with a typical project or transaction
- Establish key constants in the model using full scope of Excel range name function
- Build a flexible timing structure using appropriate date functions and binary flags
- Construct modularised units that form the building blocks of a professional model including (but not limited to):
- Capital Expenditure breakdown with contingencies
- Production calculations with multi-path optionality on time-series schedules
- Revenue build up with detailed pricing controls
- Operational and maintenance expenses including fixed and variable items
Understand the structure of cashflow waterfalls and the importance of ‘seniority’
- Learn how to calculate Cash Flow Available for Debt Service
- Learn how to layout line items in an efficient and easy to communicate way
- Understand the different types of circular references and how to avoid them
Day Two
Integrate project finance term (operational) debt
- Walk through of term debt structuring and annuity repayment through first principles
- Discussion of DSCR sculpted, linear and bullet repayment structures in project finance
Construct and analyse debt facilities for credit or investment decisions
- Learn the importance of credit ratios and their purposes in analysis
- Build commonly used ratios in banking and finance from first principles
- Extract key metrics from ratios using a range of advanced Excel functions
Calculate key returns results and understand the role of dividends policy
- Discuss the reason and impact of dividends policy on valuations
- Integrate internal rate of returns and NPV, understand role of the discount rate
- Learn differences between NPV and XNPV functions and common errors in their application
Take control of robust and rapid sensitivity and scenario analysis through powerful Excel techniques
- Save time and deliver rapid analysis with our approach to scenario management
- Use the scenario manager to test the model in all scenarios
- Build confidence in your analysis through pre-programmed combinations of model inputs