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Building on successive sell out conferences on the Private Finance Initiative, SMi have produced its 3rd annual event which deals exclusively with the crucial issues surrounding Financial Modelling for successful PFI/PPP and Government Contracts III.

As a senior industry executive, this is your opportunity to gain a real and complete understanding of financial models and how they can help you in your PFI/PPP projects.

We would therefore like to invite you to register for SMi’s PFI/PPP and Financial Modelling III. As you will see from the brochure, an outstanding panel of speakers will deliver vital information. The conference will combine the experience of prominent officials from the public sector responsible for steering PFI policy and strategy with an insight from key executives in the private sector responsible for managing and financing major PFI projects.

The views of the accounting, legal and banking fraternity plus commercial interests will all be incorporated to provide a comprehensive and authoritative account of all related issues.

Conference programme

8:30 Registration and Coffee

9:00 Chairman's Opening Remarks

Richard Thomas

Richard Thomas, Managing Director, Structured Finance, Rotch Property Group

9:10 AUDITING OF FINANCIAL MODELS

David Finlay

David Finlay, Private Finance Unit, National Audit Office

  • How the NAO have been examining PFI projects and financial models
  • The use of models to consider different outcomes
  • Common errors in preparing models and how to rectify them
  • Reviewing and testing the output of models
  • The lessons learned from projects examined by the NAO
  • 9:40 THE REQUIREMENT OF FINANCIAL MODELLING IN PFI

    David Clarson

    David Clarson, Director, Clarson Goff Management

  • The role of financial modelling in the effective realisation of PFI
  • The necessity for producing sound financial models
  • The public sector’s requirement
  • The private sectors requirements
  • A unified framework that is consistent and responsive
  • User friendly
  • 10:20 INSURANCE AND FINANCIAL MODELLING

    Lee Cary

    Lee Cary, Risk Manager, Thomson Training and Simulation

  • Risk profiling
  • Insurance as a risk transfer mechanism
  • Calculating the cost of risk transfer within the model
  • Uninsured/uninsurable risks
  • Claims management
  • 11:00 Morning Coffee

    11:20 PUBLIC TRANSPORT PROJECTS

    Andrew Mellor and David Ashmore

    Andrew Mellor and David Ashmore, Associate, Steer Davies Gleave

  • The traditional transport project financial model
  • The use of risk based techniques in modelling the business case
  • Selected case studies
  • Applicability to the PFI framework
  • 12:00 AFFORDABILITY ANALYSIS

    Dr John Whiteman

    Dr John Whiteman, Chairman, Modica

  • The viability of a business case using a financial model as guidance
  • The assistance of a financial model in assessing possible long run outcomes of a PFI project
  • Minimise the costs of doing an affordability analysis by using a financial model
  • The use of a financial model in ensuring a sound and robust bid to win a project
  • Financial models to increase your chances of success
  • A financial model to show stability and professionalism to a bid
  • 12:40 Lunch

    14:00 PRACTICAL IMPLICATIONS OF FINANCIAL MODELS

    George Atanasov

    George Atanasov, Manager, Infrastructure Finance, British Linen Bank

  • Getting started
  • Hallmarks of a great model
  • Pitfalls and how to avoid them
  • Bid optimisation and evaluation
  • Modelling - the future
  • 14:40 FINANCIAL MODELLING IN PRACTICE

    Stephen Cooper

    Stephen Cooper, Business Analyst, Laing Hyder

  • A contractor’s interest-investment or construction Work
  • Working within the framework of a financial model
  • How can a model assist in estimating the construction bid?
  • Using a financial model in evaluating the main risks involved
  • Building a secure package for debt financing - Funder’s expectations and the direct agreement
  • Long term financial cost - Post financial close issues
  • 15:20 Afternoon Tea

    15:40 UNDERSTANDING THE RISK PROFILE OF PFI PROJECTS

    Simon Sheaf

    Simon Sheaf, Consultant, Tillinghast Towers Perrin

  • Choosing a suitable risk methodology (e,g. RAMP)
  • Linking with a suitable financial model
  • Identifying project risks in the PFI/PPP sector
  • Analysing probabilities and final impacts
  • Mitigating risks
  • Sharing residual risks between public and private sectors.
  • 16:20 LEGAL ISSUES FOR FINANCIAL MODELLING

    Howard Barrie

    Howard Barrie, Head of Project Finance, Wilde Sapte

  • The relevance of the model to the lawyer
  • The role of the financial model in shaping the project documents and the project documents in shaping the model
  • Using the model in transaction negotiations
  • Changing the model during the project life
  • Model custody agreements
  • 17:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Re-registration and Coffee

    9:10 Chairman's Opening Remarks

    Chris Lewin

    Chris Lewin, Chairman of Corporate Finance Committee, Institute of Actuaries

    9:10 METHODS OF PAYMENTS

    Andrew Doyle

    Andrew Doyle, Director, Ash Corporate Finance

  • Utilising your financial model in order to achieve value for money
  • Encouraging innovative solutions through the financial model
  • Risk and reward public or private
  • Maximising your financial model - introducing incentives
  • Evaluating long-term payments methods and incorporate these into your financial model
  • The importance of the financial model in being able to deal with alternative payment methods
  • 9:40 LOCAL AUTHORITY PFI EDUCATION PROJECTS

    Bill Usher

    Bill Usher, Principal Accountant, Manchester City Council

  • Understanding the issues arising from local management of schools
  • Benefits and problems of Pathfinders status
  • The development of a standard template contract for PFI/PPP projects
  • A payments mechanism which rewards good performance
  • Problems encountered
  • Lessons to be learned through the development of the project
  • 10:20 CASE STUDY

    Tim Straughan

    Tim Straughan, Director of Finance, NHS Estates

  • Examining the objectives of the financial model
  • Comparisons made within the PSC
  • The imporatence of whole life cycling
  • Identifying and modelling risk
  • Component parts of the successful financial model
  • Lessons to be learnt through the developed model
  • 11:00 Morning Coffee

    11:20 FINANCIAL MODELLING FOR FINANCIAL CLOSE

    Ian Derrick

    Ian Derrick, Head of Analysis, Project Finance, The Royal Bank of Scotland

  • Understanding what the model is expected to do at financial close
  • Hedging calculations and dealing with the traders
  • Calculating banking ratios within financial models
  • Running sensitivities - is the project bankable?
  • The model auditors and the assumption book
  • ‘Dry Runs’ and Financial Close
  • 12:00 MODEL AUDITS: PURPOSE AND DUE DILIGENCE PROCEDURES

    Hugh Daniel

    Hugh Daniel, Joint Chief Executive, Operis

  • What comfort do the sponsors and providers of finance obtain?
  • Coverage: how far does ‘cover your back’ extend?
  • Working with different arrangers and lenders
  • Procedures: importance of the ‘process’ and work programme
  • The deal is often a moving target: how to cope
  • 12:40 Lunch

    14:00 NEGOTIATING YOUR FINANCIAL MODEL

    Stephen Davies, Business Case Manager, PRESTIGE Project, London Transport

    Stephen Davies, Business Case Manager, PRESTIGE Project, London Transport, , Edward Haysler, Managing Partner, The French Thorton Partnership

  • Using your financial model as a negotiating tool
  • Creating a public sector comparator to ensure value for money
  • Developing a business case model to maximise return
  • Using risk assessment to drive contract terms and conditions
  • 14:40 EVALUATING BIDDERS FINANCIAL MODELS

    Trevor Doherty

    Trevor Doherty, Director, Secta Group

  • What elements should be present in an ideal financial model for a public sector NHS project
  • Tips and pointers how to structure your financial model for successful NHS projects
  • Preferred approaches to PFI financial models within the health service
  • The importance of sound financial modelling when bidding for a PFI contract
  • Increase your chances of success by submitting clear, concise and structured financial models
  • Some recent examples and lessons to be learnt from these within the PFI/NHS profile
  • 15:20 Afternoon Tea

    15:40 PFI FINANCIAL MODELLING IN PRACTICE

    Richard Crawford

    Richard Crawford, Assistant Director, Ernst and Young

  • Why develop a financial model?
  • What can go wrong? and Why?
  • Assessing the key risk factors
  • Managing these risks through proper process
  • 16:20 FINANCIAL MODELS AFTER FINANCIAL CLOSE

    Marieke van der Reijden

    Marieke van der Reijden, Associate Director, Chesterton

  • Defining what operational costs should be included
  • Estimating operational costs at multiple sites within the public sector comparator
  • Refining the model to reflect increasing accuracy
  • Linking the bidders price to value for money in the public sector comparator
  • Operational elements used in the private sector’s model post financial close
  • 17:00 Chairman's Closing Remarks and Close of Conference

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    Workshops

    PFI Financial Modelling in Practice
    Workshop

    PFI Financial Modelling in Practice

    The Hatton, at etc. venues
    8th September 1999
    London, United Kingdom

    PFI Financial Modelling in Practice
    Workshop

    PFI Financial Modelling in Practice

    The Hatton, at etc. venues
    8th September 1999
    London, United Kingdom

    The Hatton, at etc. venues

    51/53 Hatton Garden
    London EC1N 8HN
    United Kingdom

    The Hatton, at etc. venues

    HOTEL BOOKING FORM

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    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

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    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

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    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

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