Project Finance Modelling
- Finance & Investment
This module is conducted in-person.
2 days
Weekdays (9am - 5pm)
Who Should Attend
For professionals who need to build, review or analyse project finance models for investment and lending decision-making. This include:
- Corporate and investment bankers
- Sponsors, contractors, financiers and investors of projects, government agencies
- Financial analysts, credit analysts, investment analysts
- Project managers, engineers, consultants
PREREQUISITES
Participants need to have a basic degree with relevant experience or exposure in project financing; proficient in using excel (basic mathematical operations) and have working knowledge of accounting and financial statements. A personal laptop with Windows OS and Microsoft excel is also required.
Overview
This 2-day workshop aims to equip participants with knowledge on how to build project finance models to assess and analyse the financial feasibility of infrastructure projects. Through a hands-on case study, participants will build a working model from scratch, construct scenario analysis to challenge inputs and assumptions, as well as best practices and techniques to audit models and resolve circularities.
Learning Objectives
- Determine key financial matrices used to analyse the feasibility of projects
- Model different funding priorities in project financing
- Incorporate timing flexibility into the financial model
- Build a flexible working capital model based on varying terms of trade
- Build cash flow cascades to forecast debt capacity in project financing
- Construct scenario analysis to challenge model inputs and assumptions
- Learn techniques to audit project finance models and resolve circularities
Topic/Structure
Financial Modelling Layout
- Overview of best industry practices for financial modelling
Project timeline and event flags
- Timing the occurrence of events in the model
- Create event flags for monthly, quarterly, semi-annual flags
- Key flags
- Construction period flag
- Operations period flag
- Manpower flag
- Funding drawdown sequence flag
- Debt period flag
- Loan repayment flag
- Working capital flag
Capex and Depreciation Schedules
- Capex schedule
- Create fixed asset schedule and depreciation schedule
- Amortisation schedule
Debt & Equity Modelling
- Sources of funding
- Equity and funding gap
- Order of funding commitment
- Project debt capacity calculation
- Interest repayment
- Debt repayment
Income statement modelling
- Project revenue ramp up model
- Unequal monthly cost schedules
- Fixed and variable cost schedules
Working capital modelling
- Link between income statement, working capital and cashflow statement
Cash flow modelling
- Cash flow available for debt service
- Cash flow waterfall – payments seniority
- Reserve accounts top up
- Non-operating inflow
- Non-operating outflow
- Circular interest computation
Balance sheet modelling
- Cash account balances
- Various reserve account
- Account receivables
- Inventories
- Debt account balance
- Capitalised assets and depreciation
- Standby line usage and amount
- Equity
- Retained earnings
Establish scenario and sensitivity analysis
- Use of data for sensitivity analysis
- Identifying suitable scenarios and sensitivities and their impact on financial analysis
Model Audit
- How to insert various tests and checks in the model
- Identify common model errors and fix them
Apply different financial analysis techniques
- Importance of PV, NPV, and IRR and their link with company valuation
- How to analyse various capital budgeting decisions
- Calculation of multiple ratios- DSCR, LLCR, PLCR Debt/ Equity etc
Handling circularity
- How to handle circular references in financial modelling
- Effect of circular references on the model
- Various types of circularities
Assessment
As part of the requirement for SkillsFuture Singapore, there will be an assessment conducted at the end of the course. The mode of assessment, which is up to the trainer’s discretion, may be an online quiz, a presentation or based on classroom exercises.
Participants are required to attain a minimum of 75% attendance and pass the associated assessment in order to receive a digital Certificate of Completion issued by Singapore Management University.
Calculate Programme Fee
Fee Table
COMPANY-SPONSORED | |||
PARTICIPANT PROFILE |
SELF-SPONSORED |
SME |
NON-SME |
Singapore Citizen < 40 years old Permanent Resident LTVP+
|
$654 (After SSG Funding 70%) |
$254 (After SSG Funding 70% |
$654 (After SSG Funding 70%) |
Singapore Citizen ≥ 40 years old |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
International Participant |
$2,180 (No Funding) |
$2,180 (No Funding) |
$2,180 (No Funding) |
All prices include 9% GST
Post Secondary Education Account (PSEA)
PSEA can be utilised for subsidised programmes eligible for SkillsFuture Credit support. Click here to find out more.
Self Sponsored
- SkillsFuture Credit
-
Singapore Citizens aged 25 and above may use their SkillsFuture Credits to pay for the course fees. The credits may be used on top of existing course fee funding.
This is only applicable to self-sponsored participants. Application to utilise SkillsFuture Credits can be submitted when making payment for the course via the SMU Academy TMS Portal, and can only be made within 60 days of course start date.
Please click here for more information on the SkillsFuture Credit. For help in submitting an SFC claim, you may wish to refer to our step-by-step guide on claiming SkillsFuture Credits (Individual). - Workfare Skills Support Scheme
-
From 1 July 2023, the Workfare Skills Support (WSS) scheme has been enhanced. Please click here for more details.
Company Sponsored
Enhanced Training Support for SMEs (ETSS)
- Organisation must be registered or incorporated in Singapore
- Employment size of not more than 200 or with annual sales turnover of not more than $100 million
- Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
- Trainees must be Singapore Citizens or Singapore Permanent Residents
- Trainees must not be a full-time national serviceman
- Trainees will be able to enjoy ETSS funding only if the company's SME's status has been approved. To verify your SME's status, please click here.
Please click here for more information on ETSS.
Absentee Payroll
Companies who sponsor their employees for the course may apply for Absentee Payroll here. For more information, please refer to:
AP Guide (Non-SME Companies)
Declaration Guide (SME Companies)
Intake Information
This module is conducted in-person.
Course | Dates |
---|---|
INTAKE 11 | 11 - 12 Nov 2024 [Registration Closed] |
INTAKE 12 | 3 - 4 Mar 2025 [Open for Registration] |
*Online registration will close 5 calendar days before the course start date