Financial Modelling for Project Finance: Pre-financial close cashflow modelling in Excel (Lac Finance Texts) Paperback – December 15, 2017

As a hopeful analyst for a project finance-oriented development firm, I've glanced, skimmed and read multiple books supposedly teaching you how to build financial models. Modelling project finance is not easy task, nor is it one that is easily taught. While there are numerous, excellent texts that teach the reader how to build corporate finance models, project finance is a totally different story. Of the PF offerings out there, most are conceptual. Conceptual is good - to a point.Lynch's Financial Modelling for Project Finance was passed into my hands by a friend, and it is far and away the most organized, concise and reference-able text I've come across. There is absolutely no fluff throughout the entire workbook, but this doesn't necessarily make it dry. Lynch does an excellent job of telling you what you need to do, why you need to do it, and to implement it in the model.One of the most valuable takeaway's I've had so far has been the continual emphasis on how to create timelines and counters in the "work" worksheet, which allow accurately timed calculations for every other aspect of the model (Capex, Financing, Ops, etc).Along with the workbook, the purchaser gains access to a set of spreadsheets that range from fully built models to various exercises in constructing or solving them in order to hone your skills. These models and exercises revolve around one specific case study: a water treatment project. While this may not be specifically the industry you'd plan to work in, the case study is sufficiently complex enough to illustrate any and all conventions required to build out a project finance model in other industries.The best part about the case study is that it actually puts you in the role of the financial analyst. The first exercise gives you notes of a meeting about the project that your firm receives an invitation to bid for. It grants the analyst limited information and requires you to build a base analysis around limited information. The exercises get subsequently more complex, and by the time I was finished with them, I felt beyond prepared to apply what I'd learned to any other project-finance oriented solution.A last point, the organization of this book truly shines. Every section is referenced, every chapter that might require background from another chapter is referenced, you know exactly where to find things when you need to find them.The price tag on this book is hefty, and I didn't have to pay it. With that said, I plan to once I land a job using the skills I've developed from this book - its worth every penny. Lastly, it might be noted that I emailed the author with various questions, and woke to them answered in full the next morning, with the generous offer to answer any further questions that may arise in my practice and studying.

One of the best Modeling books.The author sent the spreadsheets even before the book arrived.