The course will cover the appraisal of projects and investments using the Project Appraisal model. It will focus on the key steps of the capital investment process: defining the project appraisal parameters, underlying assumptions and consideration of the key variables affecting project viability. Participants will gain a thorough understanding of the tools and techniques used in project appraisals, and appreciate the issues in project appraisal as well as the adaptation of the model to real world corporate decision-making: evaluating projects of different lives, replacement choices, investment timing decisions and capital rationing.
The training is designed to take 30 hours; it includes video materials, case discussions and Excel financial models, quizzes, and teamwork. It will focus on practical managerial implications and considerations. Basic knowledge of Excel is essential to complete the course successfully. The language of instruction is English.
- Project Appraisal techniques – Cash flow and Accounting based techniques: NPV, IRR, MIRR, AAR, Payback, Discounted Payback, Profitability Index,
- Critique of techniques – strengths and weaknesses,
- 5 Step Project Appraisal Model,
- Variations in Project Appraisal– Evaluating projects of different lives, Replacementdecisions, Investment timing decisions, Capital rationing,
- Risk and uncertainty in Project Appraisal – Types of Project risks, Sensitivity analysis, Scenario analysis, Break-even analysis.
Other topics discussed will include managing uncertainty and risk in project cash flows where
techniques such as sensitivity, scenario and break-even analysis are used.
This course assumes that participants are interested in finance and possess a good understanding of financial statements, financial instruments and capital structure.
During this course the participants are exposed to a number of finance concepts that practitioners in the field use and apply. At the end of the course, participants will be able to
- Provide a comprehensive understanding of the principles and techniques of project appraisal.
- Apply financial models and formulae to evaluate key parameters in the project appraisal models.
- Demonstrate an ability to use MS Excel tools in problem solving.
Start Date: Oct 30
End Date: Dec 8
Schedule: Mondays and Fridays, 7 PM– 9:30 PM
Duration: 30 hours (12 meeting, 2,5 hours each)
Course Fee: 65,000 AMD (VAT included) for the entire course
Language of instruction: English
About the Instructor: Seda Vardanyan is an experienced professional with 13+ years of working in the area of managerial, financial accounting and tax consulting. She has worked in consulting, auditing and finance fields at local companies, as well as PwC Hungary, General Electric. While doing her MBA at the Central European University (CEU) Seda spent one month visiting a number of innovative organization based in New York City, to complete an individual project on general management, leadership and financial control. Besides professional achievement, she did her research assistantship on the topics of “Directionality of Innovation of Armenia”.
Along with her ACCA and MBA she recently certified as a CEFE Trainer (Competency Based Economies through Formation of Entrepreneurs), a hands-on, interactive a visual methodology used in situational business games.
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