Learning objectives
Knowledge and understanding: Students acquire depth and systematic understanding of knowledge in area of structured finance and project
financing and can work with theoretical background at the field of structured finance and project financing and research-based knowledge at the forefront of their academic discipline.
Disciplinary methodologies: Students acquire sufficient insight in to structured finance and project financing and understanding of fundamentals techniques that are applicable to their own work area. Applying knowledge and understanding; - Understand how and why to use structured finance and project financing for multiple goals within a larger strategy -Understand the major benefits and challenges of structured finance and project financing - Learn to plan, develop, and evaluate a comprehensive project financing case -Learn how to measure structured finance and project financing efforts - Implement financial and statistical methods.
Making judgements: Ability to autonomously select relevant information useful for project financing planning, controlling and decision making in the short, medium and long term.
Communication skills: Prepare and discuss reports for managers about planning, controlling and decision making in a business contest, using an appropriate and specific vocabulary.
Learning skills: Continuously increase and update the competences, knowledge and methods acquired for managerial decision making.
Prerequisites
None
Course unit content
Structured finance is an "alternative" kind of finance that benefits from risks sharing. The course aims at providing a comprehensive overview of
project financing and structured finance, including motivations, benefits and challenges, main players involved, risk management and evalution techniques, and financial assessment methods.
Full programme
Definitions and introductory concepts
Differences between corporate and project financing, ring fence
principle, financial statement, risks
Main players involved
Sponsor, advisor, SPV, contractor, purchasers and suppliers, public administration, banks
Banks and Financial indicators
Project financing phases
Analyzing project viability Risks evaluation
Project's cash flow
Decision analysis techniques o Sensitivity
Decision trees Simulations
Vocenants
Financing the project
Business cases
Bibliography
Basic course book is è “La Finanza di Progetto in pratica” Giacovelli Ed. 2022, Angelo Deiana. Further material will be provided by Instructor.
Additional textbooks:
Project Financing: Asset-Based Financial Engineering, 3Ed, 2015 - John
D. Finnerty
Project Finance in Theory and Practice: Designing, Structuring, and Financing Private and Public Projects, 2012 - Stefano Gatti
Angelo Deiana - Andrea Gentili
"Corporate Finance"
Giacovelli Editore2023
Teaching methods
The lecture will be a blending of the instructor presenting relevant material and a learning by doing of the students (case studies) in order to stimulate their critical thinking.
Assessment methods and criteria
The assessment is based on the presentation of 3 different business cases. The final oral test consists of both theory questions and practical exercises. “30 cum laude” is given to students who achieve the highest score on each item and use precise vocabulary.
Other information
Participation in lectures is not compulsory.
