Project Appraisal

Our project appraisal courses are grounded in accepted finance theory but the emphasis is on practical application applied to the business context within the current economic environment

We believe that combining theory and practice encourages rigorous analysis and robust solutions.

Below is the outline content of a typical course programme in project appraisal. Our courses, however, are tailored to a customer’s specific needs, balancing educational effectiveness, logistical constraints and cost.

Course programmes are tailor-made in terms of structure, and content.

The structure of courses will differ in terms of the overall length, varying from a few days to a longer integrated modular programme with or without pre-course or post-course work.

The content and sequencing of topics will reflect the level of participants’ experience and seniority and will typically incorporate in-house material and case studies.

Project Appraisal – Typical Course Content

Introduction

  • Overview of course and content
  • Current issues, developments and controversies

Project Appraisal Quiz

  • To raise issues and terminology

Investment Appraisal using DCF

  • discounting and the time value of money
  • discounted cash flow versus other methods
  • NPV, IRR, payback
  • terminal values

*exercises and case studies

Cash Flow Considerations

  • incremental, strictly cash flows
  • income and expenditure items
  • capital expenditures and working capital
  • un-geared versus geared approaches

*exercises and case studies

Discount Rate Considerations

  • cost of debt
  • cost of equity
  • weighted cost of capital
  • un-geared versus geared methods

*exercises and case studies

Project Risk Assessment and Wider Considerations

  • project risk checklist
  • risk mitigation techniques
  • sensitivity and scenario analysis
  • financing considerations
  • impact on the accounts and covenants

*exercises and case studies