Project financing 8th edition

The eighth edition is a fundamental and essential update to the seventh edition published in 2000. This new edition examines a comprehensive range of existing and newer topics that are relevant to project financing in 2012 and explores current trends in the project finance and leasing industries. Contributors are experienced academics and practitioners. Since the first edition was published, the financial markets have undergone tremendous upheavals and many new structures and instruments have been created to meet the financing needs of business. This edition considers the wider world of project finance, applicable to such diverse situations as venture capital and leveraged buyouts, and using new approaches such as Islamic finance techniques. The eighth edition is an essential and over-due update to the previous edition published in 2000. The eighth edition updates a comprehensive review of financial and related topics which are relevant to project financing in 2012 and explores current trends in financial modelling of a project, risk management and the private finance initiatives. This is a comprehensive and practical book full of advice and tips for successful project financing, including leasing, offering a clear, easy to understand guide to a complex area with examples. The topic coverage is well organized and complete moving from the fundamentals to the more complex issues. There is an extensive glossary to support readers. Finally the use of 12 practitioner case studies brings many of these complex issues to life. This is the new edition of the clear, easy-to-understand industry-standard text on project financing. With a good overview of a broad area and using principles of project financing to explain complex structures, this book includes lots of examples and case studies (including Eurotunnel, Dabhol, multiple Paiton deals and other recent deals along with subsequent developments) to show the concepts in use, examine outcomes and to ensure you understand important issues such as effective project structuring and financing, financial modelling for project valuation, and risk management. Substantially updated and expanded to provide the latest developments in all aspects of project financing. An important manual reference, this book is a must-have for every project financier's desk. The text unites the domain of project financing with a wealth of project management techniques, supported by diagrams and charts and other pictorial features, where appropriate. All these supporting features facilitate a better understanding of the accompanying text for the reader. In many chapters there are diagrams to clarify the specific transaction structure discussed in the accompanying text. These diagrams enable the reader to get a very clear idea of the transaction structure, which is particularly useful where it is complex or unusual. There are also a number of checklists to assist stakeholders in the project and resource management of complex project financings. The new financial modelling chapters allow exploration of some of the pitfalls project models encounter, challenging the accurate replication of the project cash flows for stakeholders to evaluate. In the later new risk management chapters, worked examples are included to illustrate the techniques in practice. The new public private partnership/private finance initiatives chapter introduces readers to this new approach to public projects. References are made to useful websites throughout the text. Cases are included at the end of the main text to encourage examination of real-life examples of project financing in practice and also highlight specific issues of current interest. The book will be helpful to project finance sponsors, lawyers, host governments, bankers and providers of capital

Quantitative risk management aids refinery construction

Conventional project management techniques are not always sufficient to ensure that schedule, cost and quality goals are met on large-scale construction projects. These jobs require complex planning, designing and implementation processes. The main reasons for a project's nonachievement in India's hydrocarbon processing industry are changes in scope and design, altered government policies and regulations, unforeseen inflation, under and/or improper estimation. Projects that are exposed to such an uncertain environment can be effectively managed by applying risk management throughout the project life cycle.

Planning for project control through risk analysis:a case of petroleum pipeline laying

Projects that are exposed to uncertain environments can be effectively controlled with the application of risk analysis during the planning stage. The Analytic Hierarchy Process, a multiattribute decision-making technique, can be used to analyse and assess project risks which are objective or subjective in nature. Among other advantages, the process logically integrates the various elements in the planning process. The results from risk analysis and activity analysis are then used to develop a logical contingency allowance for the project through the application of probability theory. The contingency allowance is created in two parts: (a) a technical contingency, and (b) a management contingency. This provides a basis for decision making in a changing project environment. Effective control of the project is made possible by the limitation of the changes within the monetary contingency allowance for the work package concerned, and the utilization of the contingency through proper appropriation. The whole methodology is applied to a pipeline-laying project in India, and its effectiveness in project control is demonstrated.

Construction project control in the UK:current practice, existing problems and recommendations for future improvement

The aim of this study is to address the main deficiencies with the prevailing project cost and time control practices for construction projects in the UK. A questionnaire survey was carried out with 250 top companies followed by in-depth interviews with 15 experienced practitioners from these companies in order to gain further insights of the identified problems, and their experience of good practice on how these problems can be tackled. On the basis of these interviews and syntheses with literature, a list of 65 good practice recommendations have been developed for the key project control tasks: planning, monitoring, reporting and analysing. The Delphi method was then used, with the participation of a panel of 8 practitioner experts, to evaluate these improvement recommendations and to establish their degree of relevance. After two rounds of Delphi, these recommendations are put forward as "critical", "important", or "helpful" measures for improving project control practice.

Költség- és időcsökkentési eljárások alkalmazása a projekttervezésben és a nyomon követésben = Application of cost and time reduction procedures in project planning and the follow-up

A válság okozta megszorítások a projektek költségvetését sem hagyták változatlanul. Nagyon sokszor nemcsak a jövőbeni projekttervek költségvetését kell átgondolni, hanem a már futó projektek költségvetését is újra kell szabni. E tanulmány ilyen esetekben nyújthat módszertani támogatást. A szerző ebben a kutatásban négy költség- és időcsökkentő módszert hasonlít össze. Ismerteti, hogy ezeket az eljárásokat milyen módon lehet ötvözni, illetve mikor, melyiket célszerű alkalmazni. Az eljárások között van olyan módszer, amely a hagyományos projektmenedzsment (pl. építési, beruházási projektek menedzselésének) eszköztárát gazdagítja, de találkozhatunk olyan eljárásokkal is, amelyek az agilis projektszemléleten alapuló módszerek körét szélesítik. A bemutatott módszerek nemcsak a hálótervezési, hanem a mátrixos projekttervezési eljárások esetén is alkalmazhatók. ____ Due to the effects of the crisis, budgets of present as well as future projects are decreasing steadily. In this study four different methods are introduced for minimising budget and time demands. These introduced methods support not only the traditional but also the agile project management. Furthermore these methods can be used not only in case of network planning, but also for matrix-based project planning.

Projekttervezési módszerek kihívásai a XXI. században (Challenges of the project planning methods in the 21st century)

Több mint száz éve született meg Henry Gantt (Gantt, 1910) sávos ütemterve, Kelley (Kelley, 1961) és Walker (Walker, 1959) is több mint hatvan éve publikálta kritikus út módszerét. Az ezekre épülő költség- és erőforrás- tervezési módszerek vajon alkalmasak-e a ma kihívásaira? Az olvasó ebben a tanulmányban többéves kutatómunka gyümölcsét láthatja. A kutatás során az egyik legfontosabb cél annak vizsgálata volt, hogy a meglévő projekttervezési eszközök mennyiben felelnek meg a mai projektek kihívásainak; hol és milyen területen van szükség e módszerek továbbfejlesztésére, esetleg meghaladására. Ebben a tanulmányban a szerző olyan módszereket mutat be, amelyek messze túlvezetnek bennünket a projekttervezés eddig elsősorban operatív feladatokra szorítkozó módszereitől, és olyan kérdések megválaszolására fordítja figyelmünket, mint pl. milyen tevékenységeket, projekteket valósítsunk meg; melyeket hagyjuk el vagy ütemezzük be egy későbbi projektbe; hogyan rangsoroljuk, priorizáljuk a projektek megvalósítását, fontosságát? ______ Gantt chart (Gantt, 1910) was born by Henry Gantt more than a hundred years ago. Kelley and Walker published their critical planning method more than a 60 years ago (see i.e. Kelley-Walker, 1959). Can we use methods based on network planning methods for the challenges of 21st century? In this paper the author can see the results of the recent researches. In this study with their colleagues he investigated which project planning methods can be used in challenges of the 21st century and where and how to improve them. In these researches new matrix-based project planning methods are specified, where they can deal not only operative but strategic questions: which subprojects/tasks should be completed, how to treat priorities of completion in case of defining logic planning, how to support not only traditional but agile project management approaches.In this paper he introduces a new matrix-based method, which can be used for ranking project or multi project scenarios with different kinds of target functions. The author shows methods that are used in an expert module. He shows how to integrate this expert module into the traditional PMS system.

The Impact of Project Manager on Project Success – The Case of ICT Sector

The project management literature on project success is rich. Numerous papers focus on the evolution of the understanding of project success, identification of success criteria and critical success factors. Critical success factors increase the potential for achieving project success, while project success can be evaluated with the help of success criteria. Although the interrelationships between critical success factors and success criteria are rarely analyzed, yet there is a strong demand for it. The aim of this paper is twofold. One of the aims is to identify the impact of one of the critical success factors, the project manager’s project management attitude on project success. The other aim is to highlight the interrelationship between the project manager’s personal characteristics and project management attitude and leadership style, which are three critical success factors. These aim to address the shortcoming mentioned above, which is considering the lack of the interrelationships between critical success factors and success criteria. The research outcomes are drawn from qualitative field research at the Hungarian subsidiaries of multinational companies operating in the ICT sector.

The use of computing technology in highway construction contractor companies as a Total Jobsite Management Tool (TJMT)

The integration of automation (specifically Global Positioning Systems (GPS)) and Information and Communications Technology (ICT) through the creation of a Total Jobsite Management Tool (TJMT) in construction contractor companies can revolutionize the way contractors do business. The key to this integration is the collection and processing of real-time GPS data that is produced on the jobsite for use in project management applications. This research study established the need for an effective planning and implementation framework to assist construction contractor companies in navigating the terrain of GPS and ICT use. An Implementation Framework was developed using the Action Research approach. The framework consists of three components, as follows: (i) ICT Infrastructure Model, (ii) Organizational Restructuring Model, and (iii) Cost/Benefit Analysis. The conceptual ICT infrastructure model was developed for the purpose of showing decision makers within highway construction companies how to collect, process, and use GPS data for project management applications. The organizational restructuring model was developed to assist companies in the analysis and redesign of business processes, data flows, core job responsibilities, and their organizational structure in order to obtain the maximum benefit at the least cost in implementing GPS as a TJMT. A cost-benefit analysis which identifies and quantifies the cost and benefits (both direct and indirect) was performed in the study to clearly demonstrate the advantages of using GPS as a TJMT. Finally, the study revealed that in order to successfully implement a program to utilize GPS data as a TJMT, it is important for construction companies to understand the various implementation and transitioning issues that arise when implementing this new technology and business strategy. In the study, Factors for Success were identified and ranked to allow a construction company to understand the factors that may contribute to or detract from the prospect for success during implementation. The Implementation Framework developed as a result of this study will serve to guide highway construction companies in the successful integration of GPS and ICT technologies for use as a TJMT.

From project ontologies to communities of virtue

Projects, as an organizing principle, can provide exciting contexts for innovative work. Thus far, project management discourse has tended to privilege the vital need to deliver projects ‘on time, on budget, and to specification’. In common with the call for papers for this workshop we suggest that perhaps the “instrumental rationality” underpinning this language of characterising project activity may create more problems than it solves. In this paper we suggest that such questions (and language) frame project contexts in a partial way. We argue that such concerns stem from a particular worldview or ontology, which we identify as a ‘being’ ontology. Here we contrast being and becoming project ontologies, to explore the questions, methods and interventions that each foregrounds. In an attempt to move this dialogue further than simply another contrast of modern and postmodernist accounts of project organising, we go on to consider some possible ethical concomitants of valuing being and becoming ontologies in project contexts.

Using AHP and the IPMA Competence Baseline in the project managers selection process

This paper proposes the joint use of the AHP (Analytic Hierarchy Process) and the ICB (IPMA Competence Baseline), as a tool for the decision-making process of selecting the most suitable managers for projects. A hierarchical structure, comprising the IPMA’s ICB 3.0 contextual, behavioural and technical competence elements, is constructed for the selection of project managers. It also describes the AHP implementation, illustrating the whole process with an example using all the 46 ICB competence elements as model criteria. This tool can be of high interest to decision-makers because it allows comparing the candidates for managing a project using a systematic and rigorous process with a rich set of proven criteria.

Route through project plan no resume

Route through project plan no resume

Towars a chemical reagents and residues management at the teaching laboratories of the Chemistry School of the Universidad Nacional

The academic activities carried out at the School of Chemistry make indispensable to develop actions oriented toward the consolidation of a reagent and residue management system, especially in the teaching laboratories. The project “Management of reagents and residues in the teaching laboratories of the School of Chemistry” works under the Green Chemistry values which designs products and chemical processes that reduce or eliminate the use and production of dangerous substances, to benefit the environment. With a preventive vision, a change from the  laboratory practices is looked to select those with less environmental impact. Additionally, residue quantification is made and its management protocols are developed for each practice. The project has several stages: diagnose, action implementation, student, teacher and administration personnel training and evaluation during the process and at the end of it. The article describes methodological aspects of the project operation emphasizing on reagent and residue quantification through flow diagrams.