Training Courses
Best Practice Project Finance Modelling
Build and sensitise robust, transparent cashflow models from scratch, faster in Excel. Under personal coaching from a practitioner trainer, you construct your own project finance model using a single globally proven modelling methodology, applicable across renewable energy, infrastructure, power, mining, real estate and oil & gas.
See dates & pricesSend enquiry- 2 daysPractitioner-led
- Hands-onYou build the model,
not watch one being built - In person or digitalDelivered in person
and worldwide online - Take awayThe completed model files
and templates
See what you build
A transparent, fully built model, not just a template
The timing schedule below is a real extract from a completed course model: period dates, construction and operations flags, and the escalation index that feeds every downstream calculation, all built from first principles over the two days.
Who this is for
Your first course in project finance modelling
Best Practice Project Finance Modelling is where most participants start. It suits analysts, associates and asset management professionals who need to build project finance models themselves, not just read one someone else built, across a range of industries including renewable energy, infrastructure, power, mining, real estate and oil & gas.
Working confidence in Excel is assumed; no prior project finance modelling background is required. Participants who complete this course and want to go further typically progress to Advanced Project Finance Modelling, and from there to the half-day Further Advanced Project Finance Modelling modules.
You will get the most from this course if
- You need to build project finance models yourself, not only interpret them
- You want one repeatable, transparent modelling standard rather than ad hoc habits
- Your work spans renewable energy, infrastructure, power, mining, real estate or oil & gas
- You are comfortable in Excel but have not been taught a structured modelling method
What you will learn
Build a project finance model from first principles
Eight modules take you from a blank workbook to a complete, sensitised financial model, following our proven modelling methodology throughout.
Master proven modelling technique
- Work with a powerful, easy to follow financial modelling methodology
- Compare good versus bad modelling technique against real-life examples
- Increase consistency across your team in calculation technique and presentation
The lifecycle of a project finance model
- The structural phases of a project finance transaction, from screening to financial close
- The building block components, key details and challenges of a transaction model
- The design flow of the model builder, and how to know where to go next
A model structure that is robust and scalable
- Establish key constants using the full scope of Excel’s range name function
- Build a flexible timing structure using date functions and binary flags
- Construct modularised units: capital expenditure with contingencies, production calculations with multi-path optionality, revenue build-up with pricing controls, and fixed and variable operating costs
Cashflow waterfalls and seniority
- Calculate cash flow available for debt service (CFADS)
- Lay out line items in an efficient, easy to communicate way
- Understand the different types of circular reference and how to avoid them
Project finance term debt
- Term debt structuring and annuity repayment from first principles
- DSCR sculpted, linear and bullet repayment structures
Debt facilities for credit and investment decisions
- The importance of credit ratios and their purpose in analysis
- Build commonly used banking and finance ratios from first principles
- Extract key metrics from ratios using a range of advanced Excel functions
Returns and dividends policy
- The reason for, and impact of, dividends policy on valuations
- Integrate internal rate of return and NPV, and the role of the discount rate
- The differences between NPV and XNPV, and common errors in their application
Sensitivity and scenario analysis
- An approach to rapid sensitivity and scenario management
- Use the scenario manager to test the model in every scenario
- Build confidence in your analysis through pre-programmed combinations of model inputs
Next available dates
Upcoming courses
How the course runs
You learn modelling by modelling
Interactive, instructor-led and built on a single modelling standard that has been taught to more than 20,000 people. You build the model yourself with individual coaching through every exercise, and you keep the completed files.
This course also runs privately: see in-house training for delivery built around your team and sector, or browse the full course portfolio.
Our trainers
Learn from a practitioner
Our courses are led by experienced members of our financial modelling and model audit teams. The trainers below run this course frequently, but your session could be led by any member of our team.
Joshua Grimm
Director, Singapore
Joshua leads the development and delivery of financial modelling training courses for Forvis Mazars in Asia. His expertise covers areas such as project finance modelling for large-scale renewable energy, utilities and infrastructure projects, as well as corporate finance modelling for M&A transactions and internal FP&A. He has supported clients with their projects from feasibility through financial close, all the way to operations.
Hitansh Doda
Director, Sydney
Hitansh is a professional model builder for Forvis Mazars, with extensive experience in financial model building and development across infrastructure finance and other diverse sectors. He focuses on financial modelling and analysis of renewable energy assets and infrastructure projects.
Keshav Rana
Associate Director, London
Keshav is an Associate Director in London, managing the financial modelling training business across EMEA. He is an experienced financial modeller with more than 10 years of financial modelling experience, having worked on global projects in renewables (primarily solar and wind), utilities and telecom, as well as a range of corporate and portfolio forecasting and valuation models. Keshav’s focus now is developing and delivering financial modelling training courses, providing tailor-made courses to meet the needs of clients across an ever-changing landscape in the infrastructure and energy sectors.
Book this course
Dates, prices and online booking are on the course schedule. Not sure it is the right course? Ask us.
See dates & pricesSend enquiry