Building Financial Models in MS Excel® to Analyse the Viability and Financing of Infrastructure Projects

1. Training Introduction

Financial modelling is a critical component of infrastructure project development, investment appraisal, funding negotiations, and decision-making. Executed correctly, a robust financial model provides a transparent, dynamic, and data-driven platform for evaluating project viability, assessing financing structures, and testing sensitivities.

This training equips participants with the technical skills, analytical frameworks, and practical tools required to build, interpret, and validate financial models for infrastructure projects using Microsoft Excel®. The programme blends financial theory with hands-on exercises, enabling participants to develop models from first principles and apply them to real-world project evaluation.

 

2. Training Objective

The key objectives of the programme are to:

• Build competency in Excel® tools and functions used in professional financial modelling.
• Develop model structures for infrastructure project finance, including revenue, cost, financing, and cash-flow components.
• Analyse project viability using core financial indicators and investment appraisal techniques.
• Structure and test various financing arrangements, including debt, equity, and blended finance.
• Apply stress-testing, scenario analysis, and sensitivity techniques to evaluate project robustness.
• Validate, audit, and present models in line with global best practices.
• Equip participants with templates and methodologies for developing bankable financial models.

 

3. Targeted Group

This course is designed for:

• Investment analysts, project finance officers, and financial planners
• Infrastructure developers, PPP units, and government project teams
• Bankers, lenders, DFIs, and private equity professionals
• Accountants, auditors, and corporate finance specialists
• Engineers and project managers seeking financial analysis skills
• Consultants, researchers, and development practitioners
• Students and early-career professionals interested in modelling and project finance

 

4. Course Duration

5 to 10 Days, depending on delivery format:

• Technical Bootcamp: 5 days
• Comprehensive Professional Programme: 10 days
• Virtual/Modular Format: Flexible, self-paced modules with guided sessions

 

5. Training Methodology

The methodology emphasizes hands-on, practical, and experiential learning, including:

• Step-by-step guided financial model construction
• Live Excel® exercises and interactive demonstrations
• Real infrastructure project case studies
• Group work and collaborative problem-solving
• Diagnostic checks, model auditing, and error-tracking
• Templates, toolkits, and model-building guide materials
• Quizzes, assignments, and feedback sessions

All participants will work directly in Microsoft Excel® throughout the training.

 

6. Course Content

Module 1: Introduction to Financial Modelling and Excel® Skills

• Principles and purpose of financial modelling
• Excel® interface, functions, formulas, and shortcuts
• Data management, formatting, and modelling standards
• Spreadsheet design and model integrity practices

Module 2: Project Finance and Infrastructure Fundamentals

• Project finance concepts and cash-flow principles
• Limited recourse financing and risk allocation
• Key stakeholders and their interests
• Components of infrastructure project financial models

Module 3: Building the Revenue and Operating Cost Modules

• Demand projections and revenue forecasting
• Price/tariff modelling
• OPEX assumptions, escalation factors, and cost drivers
• Creating dynamic links and formulas

Module 4: Capital Expenditure (CAPEX) and Depreciation Modelling

• CAPEX planning and cost breakdown
• Construction schedules and disbursement profiles
• Depreciation methods and useful-life assumptions
• Integrating CAPEX into the cash-flow structure

Module 5: Financing Structures and Cash-Flow Waterfall

• Debt sizing, drawdown schedules, interest and fees
• Equity contributions and return calculations
• Debt service schedules (principal + interest)
• Cash-flow waterfall and reserve accounts
• Loan covenants, DSCR, LLCR, PLCR modelling

Module 6: Financial Statements Integration

• Profit and loss account
• Balance sheet
• Cash-flow statement
• Ensuring consistency and error-free linking
• Handling circular references and iterative calculations

Module 7: Sensitivity, Scenario, and Risk Analysis

• One-way and two-way sensitivity tables
• Scenario managers and data tables
• Monte Carlo concepts (optional introduction)
• Stress-testing model resilience
• Presentation of outcomes for decision-making

Module 8: Model Audit, Validation, and Presentation

• Model auditing techniques and diagnostic checks
• Best-practice standards (FAST, SMART, and ICAEW guidelines)
• Ensuring transparency, consistency, and usability
• Preparing dashboards, charts, and outputs
• Final project: building a bankable financial model from scratch

 

7. Expected Learning Outcomes

Upon completing the programme, participants will be able to:

• Use Excel® confidently to build structured, flexible financial models.
• Design end-to-end financial models tailored to infrastructure project evaluation.
• Assess project viability using NPV, IRR, DSCR and other financial metrics.
• Structure debt and equity financing models with professional accuracy.
• Test model robustness through stress testing and scenario analysis.
• Identify errors, perform model audits, and prepare investors’ presentations.
• Apply international best practices in model design and documentation.
• Develop bankable financial models suitable for lenders, investors, and government stakeholders.

 

8. Certificate of Completion

Participants who complete all modules and practical modelling exercises will receive a:

Certificate of Completion

Building Financial Models in MS Excel® to Analyse the Viability and Financing of Infrastructure Projects

Issued by FOTADE Training, Research and Resource Development Centre

This certificate affirms the participant’s technical competence in financial modelling, project finance analysis, and professional-level Excel® modelling for infrastructure projects.