Description and contextualization of the subject

The objective of this course is to provide students with knowledge of funding sources and financial instruments based on the study of funding needs. To know the ways of financing large projects using Project Finance and making practical applications for the evaluation of their viability through alternative methods to evaluate projects. Likewise, the uniqueness of the financing of R+D+i projects is analysed.

Learning outcomes of the subject

The student who successfully completes this subject should be able to:

- Analyse financial statements in order to make an appropriate choice of future financing needs.

- Identify the different sources of financing and financial instruments based on the study of financing needs.

- Knowing the forms of project financing that require high financing in a highly leveraged situation, which takes the form of Project Finance.

- To understand the singularity of the financing of I+D+I projects.

Ordinary call: orientations and renunciation

The assessment of the subject is carried out continuously throughout the course.

The following factors are taken into account in the grading of the course:

Attendance (25%): Although attendance is not compulsory, it is highly recommended due to the contents developed in the classroom. For this reason, attendance forms part of the calculation of the final grade.

Individual assignments (40%): Students must hand in an assignment designated at the beginning of the course. The work will be handed in by uploading it to eGela within the defined deadlines. In order to pass the course, the work must have obtained a grade higher than 5 out of 10.

Exam (35%): As in the certification exams of the professional associations of project management, the exam will be in the form of a multiple-choice test. In order to pass the course, the work must have obtained a grade of more than 4 out of 10.

The grade for the course will be obtained by applying the corresponding weight to each of the factors (attendance, individual work, exam).

If the work has not passed the established cut-off mark, the final mark for the course will be No Show.

If the exam mark is lower than 4.0, the final mark for the course will be that corresponding to the exam mark.

If the student decides to waive the Continuous Assessment of this subject, he/she must communicate it in writing before the deadline for the submission of the individual work. This date can be found in the Student Guide available on the eGela platform.

In this case, in order to pass the course, the student will be assessed by means of a written exam that may contain additional questions to those posed in the exam to which students who are assessed on a continuous basis are submitted and which will include all the contents studied throughout the four-month period corresponding to the exam. This assessment will be completed with an oral exam which will take place on the same day as the written exam, by prior appointment for students registered for this exam. In the oral exam, students will be asked about the contents studied in the classroom, as well as about the activities carried out during the corresponding four-month period. In order to pass the course, students must pass both tests.

In the event that health conditions prevent the completion of a teaching activity and/or face-to-face assessment, a non-face-to-face modality will be activated, of which students will be promptly informed (applicable to all exams: ordinary, extraordinary and advance).

Extraordinary call: orientations and renunciation

Those who have to sit the extraordinary call will do so in the same way as they did in the ordinary call. In other words, those who took the continuous assessment will complete the tests (individual work, team work, exam) that they did not pass in the ordinary call.

The grade for the course will be obtained by applying the corresponding weight to each of the factors (attendance, individual work, exam).

If the work has not passed the established cut-off mark, the final mark for the course will be No Show.

If the exam mark is lower than 4.0, the final mark for the course will be that corresponding to the exam mark.

Those who waive the continuous assessment, will be submitted to a written and oral exam as described in the previous section (Ordinary call: orientations and waiver).

Temary

Introduction

Students will be exposed to a wide range of issues in project funding, including some of the latest progress in preparing a funding plan. Project investment analysis and the importance of financing in a Business Plan. Definition of investment and its classification. Financial Markets as a place to search for financial resources.



Financing needs of a project

Rule of minimum financial equilibrium. Financing needs according to the growth of the companies.



Financial Statements

Importance of financial statements for the analysis of the economic and financial situation of the company and the study of business management. Patrimonial, financial and economic analysis.



Sources of Financing and Financial Instruments

Analysis of the financial instruments for financing projects and companies Internal financing. Own and external financing at long term and short term.



Financing of R&D&I projects

Types of Incentives for R&D&I Activities. Analysis of R&D&I Financing Programs. Analysis of Financing Programs Evaluation. Fiscal Advantages. Instruments to support R&D&I



Public-Private Partnership Programs

Financing of projects in Public-Private Partnerships.



Project Finance

Definition and characteristics. Project Finance stages and structuring. Realization of a practical example for the analysis of viability of a Project Finance.

Bibliography

Compulsory materials

The course is managed through the egela platform. Here the student will find the transparencies used in class and other help materials. The statements of individual and team assignments will also be found there, and the places where to upload them.

Basic bibliography

Kerzner, H.; Project Management: A systems approach to planning, scheduling and controlling. Ed. John Wiley, 2006.

Project Management Institute A Guide to the Project Management Book of Knowledge, Project Management Institute. 2013.

Gómez Cáceres, Diego "Financiación Global de Proyectos. Project Finance" ESIC Editorial 2001



Pérez De Herrasti, Ignacio "Project Finance" Ediciones 2010,1998



Riesgo Fernández, Pedro ¿Análisis, valoración y financiación de proyectos de inversión" Fundación Luís Fernández Velasco 1998

Journals

International Journal of Project Management



Project Management Journal

Links

https://www.pmi.org/ (2021)



http://www.ipma.world/ (2021)



DIRECCIÓN GENERAL DE POLÍTICA DE LA PEQUEÑA Y MEDIANA EMPRESA www.ipyme.org



CONFEDERACIÓN ESPAÑOLA DE SOCIEDADES DE GARANTÍA RECÍPROCA (CESGAR): www.reafianzamiento.es



BANCO EUROPEO DE INVERSIONES: www.eib.org



COMPAÑÍA ESPAÑOLA DE REAFIANZAMIENTO S.A.: www.reafianzamiento.es



DIRECCIÓN GENERAL DE POLÍTICA DE LA PYME: www.iPyme.org



EMPRESA NACIONAL DE INNOVACIÓN S.A.: www.enisa.es



FONDO EUROPEO DE INVERSIONES: www.eif.eu.int



INSTITUTO DE CRÉDITO OFICIAL: www.ico.es



SEPIDES (FILIAL DE DESARROLLO EMPRESARIAL DE LA SEPI (SOCIEDAD ESTATAL DE



PARTICIPACIONES INDUSTRIALES): www.sepides.es



ASOCIACIÓN ESPAÑOLA DE ENTIDADES DE CAPITAL RIESGO: www.ascri.org



LA CONFEDERACIÓN ESPAÑOLA DE CAJAS DE AHORROS (CECA): www.ceca.es



BANCO CENTRAL DE ESPAÑA: www.bde.es



EL INSTITUTO ESPAÑOL DE COMERCIO EXTERIOR www.icex.