Training

Investment Project Evaluation

Target Audience:Senior executives, Financial analysts, Employees of the strategic planning department, Potential investors, Credit institution employees engaged in the evaluation of borrowers’ investment projects./Duration:3 days, 24 ac. hoursProvider:Venue:AEB office, Moscow, Krasnoproletarskaya ul. 16 bld. 3, entrance 8 (4th floor), nearest metro station - NovoslobodskayaLanguage:Russian

Terms and Conditions

– The deadline for registration & payment is usually 5 days before the starting date of the course;
– Those who do not register and pay by the deadline will not be allowed to participate in the training;
– All payments are to be made by bank transfer;
– Once registration is closed, the fee is non-refundable.

 Training objectives and advantages
Course participants will learn practical skills of understanding and basic financial statements (Balance sheet, Profit and loss statement, Cash flow statement); will examine basic methods of financial analysis; learn how to use the instruments of financial analysis to evaluate the financial standing of a real company in different industries
Training program
Day 1

  • Investment as a method of strategy implementation
  • Sources of funds, cost of capital
  • Time value of money
  • Basic issues related to application of discounting theory
  • Calculation of cash flows
  • Discount rate appropriation
  • Horizon of investment planning
  • Criteria of investment projects’ evaluation: NPV, IRR, PI, DPP. Several application problems and decision guidelines
  • Analysis of projects with non equal duration
  • Investment projects ranking for decision making

Day 2

  • Decisions made on minimum cost basis: environmental projects, equipment replacement, choosing between purchase and leasing
  • Impact of income tax on investment decision
  • Accounting for inflation in projects evaluation
  • Methods of investment projects risk analysis
  • Definition of investment projects’ risk
  • Scenario method and factor analysis
  • Sensitivity analysis, and tornado diagram
  • Monte-Carlo method, calculation of standard deviation (SD) and preparation of histogram
  • Decision tree and it’s implementation for stage projects analysis
  • Real options method and principles of their inclusion in investment projects (elective)

Day 3

  • MS Excel for investment projects evaluation
  • MS Excel functions: PV, FV, PMT, NPV, IRR, MIRR, XNPV, XIRR and their application
  • Tax shield and interest expence adjustment of operational cash flow, used for NPV calculation (elective)
  • Case Study: calculation of real investment project criteria and project’s risk analysis on personal computers.

Practice
Training is conducted in an interactive form and includes a number
of case studies.Training participants are provided with specially designed training materials in Russian.

All participants will receive a certificate of attendance