Project Appraisal for HAs

Course Design

• One-day programmes for people in housing associations and other related organisations that need to understand the principles and practice of project appraisal.
• Teaching will be interactive in style, based on slide presentations and practical exercises to deal with technical issues.
• Real-life case studies to illustrate current social housing issues and demonstrate the complexities and judgemental issues of project appraisal.

Summary Content
• Time value of money ie, discounting techniques, cost of capital
• Financial criteria pros & cons: payback, NPV IRR
• Illustrative HA projects
• Non-financial risks
• Risk analysis, structuring and management
• Sensitivity analysis
• Early stage financial evaluation and contingency planning

Outline Timetable
9.00 - 10.30

• Introduction - Investment Appraisal in HAs
• Investment Appraisal Quiz
• Discounting and The Time Value of Money

* Exercises
10.30 - 10.45 Coffee

10.45 - 12.45 Investment Appraisal Techniques
- discounted cash flow and other methods
- NPV, IRR, payback
* Exercises and case studies

12.45 - 1.30 Lunch

1.30 - 3.30 Cash Flow Projections
- income and expenditure items
- capital expenditures and working capital
* Exercises and case studies

3.30 - 3.45 Tea

3.45 - 4.30 Project Risk Assessment and Management
- project risk checklists
- hedging and risk sharing techniques
- sensitivity analysis
* Exercises and case studies

4.30 - 5.00 The Investment Appraisal Process
- 3-stage model
- the role of the Board and the non-executive
- questions and answers

Summary

Level: All levels of unfamiliarity with finance and accounting
Participants: Limited to amaximumof 16
P.C: Not required (this is a computer-free seminar)
Take-away: Powerpoint topic notes and illustrative financial case
studies plus answers