LBUSI7243 Project Finance and Procurement Course Descriptor

Course Overview

This course will explore the advanced concepts and practices in project finance and procurement, aimed at equipping students with the specialised knowledge and skills necessary to navigate the complexities of modern project investment and procurement landscapes in environments of rapid change.

It begins with the fundamental knowledge of accounting and finance to ensure students have a solid foundation for exploring the complex subject of project finance. Students will be introduced to the nature and characteristics of project finance, how it differs from corporate finance, and the key considerations for organisations to finance their projects. Students will also learn how to identify and value financial risks as well as the financial risk mitigation strategies such as hedging. The project investment appraisal and performance measurement techniques will also be explored to equip students with the knowledge and skills to evaluate and control the projects. Additionally, the course will dive into procurement subject areas to help students develop a deep understanding of value for money, procurement methods, and contract types, which increase the likelihood of project success.   

The course will also emphasise the importance of sustainability and social responsibility in project finance and procurement, with students learning to integrate environmental, social, and governance (ESG) criteria into their decision-making processes. They will explore emerging trends in sustainable finance and innovative financing mechanisms for green infrastructure projects, aiming to promote environmental sustainability, social equity, and long-term economic viability.

Learning Outcomes

On successful completion of the course, students will be able to:

Knowledge and Understanding

Subject Specific Skills

Transferable, Employability or Professional Skills

Teaching and Learning

This course has a dedicated Virtual Learning Environment (VLE) page with a syllabus and a range of additional resources (e.g. readings, question prompts, tasks, assignment briefs, and discussion boards) to orientate and engage students in their studies.

Teaching and learning strategies for this course will include:

• Lectures: Instructor-led classes.
• Seminars/workshops: Interactive sessions, focused on applying theoretical concepts.
• Experiential Learning, which may includesimulations and role-playing for hands-on experience, or guest speakers for insight from professionals.
• Online Resources: Flexible learning with additional study materials.

Faculty hold regular ‘office hours’, which are opportunities for students to drop in or sign up to explore ideas, raise questions, or seek targeted guidance or feedback, individually or in small groups.

Students are to attend and participate in all the scheduled teaching and learning activities for this course and to manage their directed learning and independent study. Indicative total learning hours for this course: 150, including 40 scheduled hours

Assessment

Both formative and summative assessments are used as part of this course, with purely formative opportunities typically embedded within interactive teaching sessions, office hours, and/or the VLE.

Formative

A formative assessment in this course could be, for example, a series of set assignments reflective of the elements of the summative assessment, to accustom students to the type of material they will need to process, synthesise, and produce for the summative assessment.

Summative

The Written Assignment could be, for example, a case study report analysing and evaluating the special purposes vehicle (SPV), structure and source of project finance, financial risk mitigations of a project funded via project financing.

The Examination could, for example, include case study-based knowledge tests and numerical-based assessments.

Further information can be found in the Course Syllabus.

Feedback

Students will receive formative and summative feedback in a variety of ways, written (e.g. marked up on assignments, through email or the VLE) or oral (e.g. as part of interactive teaching sessions or during office hours).

Indicative Reading

Note: Comprehensive and current reading lists for courses are produced annually in the Course Syllabus or other documentation provided to students; the indicative reading list provided below is used as part of the approval/modification process only.

Books

Arnold, G. (2018). Corporate financial management (6th Edition). Pearson Education.

Bodmer, E. (Edward). (2015). Corporate and project finance modeling : theory and practice (1st Edition). Wiley.

Atrill, P., & McLaney, E. J. (2024). Accounting and Finance for Non-specialists (12th Edition). Pearson Education.

Callahan, K. R., Stetz, G. S., & Brooks, L. M. (2011). Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability. John Wiley & Sons.

Clifford, P. D. (2021). Project finance : applications and insights to emerging markets infrastructure. Wiley.

Lessambo, F. I. (2022). International project finance : the public-private partnership. Palgrave Macmillan.

Lewis, H. (2015). Bids, tenders and proposals: winning business through best practice. Kogan Page Publishers.

Triantis, J. E. (2018). Project finance for business development. John Wiley & Sons, Inc.

Journals

Students are encouraged to read material from relevant journals on the subject areas as directed by their course leader.

Electronic Resources

Students are encouraged to consult relevant websites on leadership and organisational change.

Indicative Topics

• Fundamentals of accounting and finance
• Structure and sources of project finance
• Budgeting and costing
• Financial risk management
• Financial control and earn value management
• Project performance and investment appraisal
• Contracts and payment structures
• Procurement
• Tendering and bidding

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