The Project Finance Course


In City Of London

£ 1,125 + VAT


  • Type


  • Location

    City of london

  • Class hours


  • Duration

    2 Days

This course covers the key steps in identifying the critical components of a project and assessing the associated risk.

Participants will receive a thorough review of the roles of the different parties in the transaction (the sponsor, the company, the commercial lenders, technical experts and lawyers), and the course will also explore the four different phases of the deal, placing particular emphasis on the risk aspects.

The methodology behind the construction of the cashflows and the techniques deployed in their evaluation will be taught comprehensively with exercises. The structure of the transaction will also be addressed, as will the legal and documentation aspects. The essential due diligence procedures will also be reviewed.

The seminar includes several major case studies and also deals with international aspects.

Participants are required to bring a laptop with a USB port to the course.

This course can also be delivered in-house to a team of people. For further information about the course, trainer or to request a quote, please contact the center.



Start date

City Of London (London)
See map

Start date

On request

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  • Project Finance
  • Finance
  • Policy Implications
  • Syndication
  • Risk/Reward
  • Value Engineering
  • Risk Protection
  • Operational Challenges
  • Due Diligence
  • Capital Markets

Teachers and trainers (1)

Former Practitioner

Former Practitioner

Former Practitioner

Course programme

Course Content:

Project Finance - the Parties

  • Who is involved
  • Syndication or sole sources
  • Third party interests
  • Government interests
  • PPI schemes

Project Finance Refresher

  • Definitions & basic principles
  • Suitable Lending policies
  • Suitable projects
  • Syndication
  • Participation
  • Risk/reward
  • Extra Curricular benefits
  • Strategic/policy implications

Case Study/Exercise: Several of each throughout the session

The Objectives of Project Appraisal/Feasibility

  • Key issues - budget, timing and sustainability issues
  • Suitability
  • The importance of independent scrutiny
  • What are they expected to achieve
  • What impact do they make on the project
  • How much detail
  • Skills needed to complete appraisals
  • The “gateway” process

Project Costs

  • Quality and accuracy of estimates
  • What is a cost plan; preparation and limitations
  • Provisional sums, allowances & contingencies
  • Dealing with exclusions
  • The goal of cost certainty
  • Value engineering
  • Factors affecting likely outturn costs
  • When to walk away

Case Study: Several of each throughout the course


  • Is the programme realistic
  • Development programmes – identifying critical events
  • Efficiency & minimising lapsed time
  • Monitoring delivery and ensuring targets are met
  • Dealing with inefficiency & missed targets
  • Consequences of timing changes – delay or acceleration

Case Study: Several of each throughout the course


  • What are the most common risks
  • Conducting risk workshops
  • Risk assessment during development
  • Risk measurement
  • Risk registers
  • Dealing with risks not measured or disregarded by the project
  • Development risks – delays & cost overruns
  • Risk protection
  • Risk transfer

Case Study: Several of each throughout the course


  • Cashflow before, during and after completion
  • Equity or quasi equity investment
  • Debt versus equity
  • Co-funding & contingent agreements
  • Covering funding shortfalls
  • Appropriate debt structure and terms
  • Managing exposure and maximising security
  • Dealing with problems
  • When to cut losses and foreclose

Case Study: Several of each throughout the course

Monitoring Projects

  • General principles
  • Project mangers versus project monitors
  • The role of monitoring reports
  • Operational challenges
  • The importance of cross party communication
  • Resolving disagreements
  • Cost effectiveness
  • Managing more than one monitor
  • Insurance especially PI

Case Study: Several of each throughout the course

Ownership Structures

  • Considerations in selecting a structure
  • Project finance structures
  • Special Purpose Vehicle (“SPV”)
  • General and limited partnerships
  • Joint Ventures (“JVs”)

Sources of Funding

  • Types of equity and debt
  • Methods of obtaining finance
  • Structure of capital markets
  • International issues
  • Bond issues and securitisation

Project Finance Risks

  • Classification and identification of risks
  • Risk matrices
  • The role of due diligence
  • Risk allocation and mitigation

The Lender’s Perspective

  • Key figures in the financial projections
  • Ratio analysis and limitations
  • Financial, covenant and country risk ratios

The Sponsor’s Perspective

  • Methods of evaluating investment decisions
  • Factors influencing the cashflows
  • The cost of capital – choice of discount rate

Credit Enhancement and Security

  • What is available
  • Funder’s requirements
  • Perfecting, valuing and controlling security
  • Going or gone concern measurement
  • Enforcing security
  • Third party security
  • Practical considerations

Management Systems

  • Bringing it all together
  • Monitoring systems
  • Establishing internal systems and reporting chains
  • Communication
  • Responsibilities
  • Governance
  • Debt servicing & Repayment
  • Recording & communicating lessons learned

Discounts available for multiple participants:

  • 3-4 participants: 15% discount per participant
  • 5-6 participants: 20% discount per participant
  • 7-8 participants: 25% discount per participant
  • 9 or more participants: 30% discount per participant

The Project Finance Course

£ 1,125 + VAT