Program Overview

Project Appraisal and Risk Management

Program Overview

The Project Appraisal and Risk Management (PARM) program is designed to develop financial, economic, stakeholder, and risk analysis and risk management knowledge and skills through real and applied case studies, lectures, and group discussions. The program takes participants through a flexible appraisal framework that can handle different types of projects, including infrastructure investments, social programs, commercial enterprises, and utilities.

Topics Covered

Financial, Economic, and Policy Analysis

• Stages in development of feasibility studies and project cycles
  • Development of cash flow statements
  • Financial sustainability of projects
  • Impact of scale, timing, and length of life on project viability
  • Impact of inflation and exchange rates on financial viability and risks
  • Cost-effectiveness measures of social programs
  • Capital markets and financing projects
  • Cost of human resources, capital, public funds, and foreign exchange
  • Economic valuation of goods and services
  • Economic valuation of human resources and environmental impacts
  • Basic needs valuation for social programs
  • Privatization, contracting, and regulation issues
  • Integration of financial, economic, and social appraisals
  • Public-private partnerships (PPPs)
  • Foreign direct investment, joint ventures, and tax incentives
  • Poverty alleviation and poverty reduction potential of projects and programs

Risk Analysis and Management

• Foundations of uncertainty and risk
• Real options analysis
• Risk assessment and management strategies (e.g., contracts and real options)
• Project design, financial, and organizational arrangements
• Climate change impact assessment and resiliency
• The roles of incentives, sanctions, and risk sharing
• Contracting arrangements
• Public-private partnerships and pricing agreements in risk sharing

Target Audience

This program is open to individuals working professionally in public finance, economics, accounting, taxation, management, engineering, or other related fields. It is for people who design, appraise, select, negotiate, or finance projects, and for those who are interested in the financial, economic, and social impacts of these projects.

Past Participants

Past participants have included employees of:

• Government ministries and public enterprises
• International development agencies
• Individual and corporate investment firms
• Private management, engineering, and business consulting firms
• Regulatory institutions
• Banks (private and public) and financial institutions
• Investment analysis agencies
• International aid agencies

Tuition

Tuition for the PARM program is $11,500. Tuition and fees cover:

• Faculty instruction from Duke faculty and expert guest speakers
• 3-Star Hotel accommodations with in-suite kitchenette and free breakfast
• Transportation for all program-related activities
• All course materials and resources
• Use of a laptop computer
• Emergency medical insurance

Tuition does not cover airfare, meals, or incidental expenses.

Program Director

The program is directed by Fernando R. Fernholz, a Professor of the Practice Emeritus at Duke University, with expertise in economic development, policies for development, and public finance. Throughout the program, Fernholz invites guest lecturers from Duke University faculty and senior practitioners in project appraisal and risk management from international organizations, financial institutions, and other prominent development institutions.

Program Location and Dates

The program will be held at the Duke University Sanford School of Public Policy, located in Durham, North Carolina. The dates for the program are to be announced.