Items related to Financial Modelling for Project Finance, 2nd Edition
This workbook provides a detailed description of how to plan and build a pre-financial close Project Finance cash flow model. Providing sufficient theory to give the context for each modelling topic, it focuses on detailed practical methods. Topics covered include treatment of flexible timing assumptions, inflation, multiple currencies, circular calculations, debt and equity calculations, cover factors and IRRs and the use of the model to produce alternative base case scenarios and sensitivity cases. The new edition includes revisions to methods and techniques and new topics developed in response to market changes. Includes a new section on optimization, covering the theory and practice of optimising revenues and/or funding structures to meet specific constraints such as cover factor and IRR requirements, whilst targeting outcomes such as lowest achievable NPV of project revenues. The workbook concludes with a series of exercises which work through the process of building a model from a set of illustrative data. Spreadsheets accompany the workbook and have been re-written to reflect the methods and principles in the new edition, and to include the new topics. Where relevant the new edition also describes processes for both 2003 and 2007 versions of Excel.
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Review:
This book by Penny Lynch is a master piece in the field of project finance modelling. It is a well written book, following the best techniques to enable you to become a good project finance modeller. It teaches basic ideas such as standardization and robustness in all steps of modelling. The book includes some exercises with the solutions, which are proof of the fine-tuning of Penny. She is also providing courses using the book as a guideline. I strongly recommend buying the book to learn the basic things about Advanced modelling for project finance i.e. circularity issues, using VBA, switching to annual or semi-annual periods, etc. The clarity of the organization of the book and the worksheets in Excel format are a good starting point for a seasoned modeller interested to learn main things. One of the most interesting issues is the order of the book, from building the model to checking it auditing - it will become a reference point in the industry. --Roger Moralles, MD of InfraEmporion and advisor at the Zanbato Group
About the Author:
After working for more than a decade with the project finance teams of two leading banks in the city of London, and for another eighteen years as an independent consultant, Penny Lynch has been involved in the use of spreadsheets for cash flow modelling since its inception in the early 1980s. Nearly thirty years of subsequent real-world modelling experience has been steadily formalised into a well-defined philosophy and methodology as Penny has concurrently developed and presented a series of international training programs for leading funders, consultants and sponsors. She is ideally placed to understand the practical issues at the heart of project finance modelling, and the practical process of communicating them to new and experienced modellers alike.
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- PublisherEuromoney Trading Ltd
- Publication date2010
- ISBN 10 1843745488
- ISBN 13 9781843745488
- BindingPaperback
- Edition number2
- Number of pages212
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