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Subject overview


100% online




1 Jul 2024


12 weeks



This subject focuses on advanced concepts and issues relating to project finance techniques. This includes techniques to evaluate a project’s debt-carrying capacity and equity requirements, and then formulate a funding solution for that particular situation. Practical case studies are used to demonstrate how project financing applies to resource projects and infrastructure developments. The subject also examines the way deals are structured, including the mix of debt, equity and unique capital sources, as well as the valuation and risk issues associated with project finance. It examines the current trend towards private investment in government assets in the context of infrastructure finance deals, as well as the tendering and bid process used for these transactions.

This subject contributes to the corporate finance specialisation.

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Subject information

Learning Outcomes

On successful completion of this subject, individuals should be able to:

  • Evaluate economic and financial cash flow models to assess project risk and viability.
  • Review and justify the requirement of specialist input in a project.
  • Construct the appropriate financial structure for a project.
  • Determine a project finance arrangement which meets client needs and reflects the current market climate.
  • Develop project documentation and syndication.


Topics covered

  1. Introduction to project finance
  2. Transaction management and due diligence
  3. Capital structuring
  4. Financial structuring
  5. Financial modelling
  6. Case study – Resources financing
  7. Documentation and syndication
  8. Government projects
  9. Case study – Infrastructure financing

Reading list

There is no prescribed text for this subject. Individuals are provided with key readings and access to Kaplan Professional’s online databases. Individuals are encouraged to research and read widely on the topic.

Reading list


Assessment TypeAssessedWeighting
TaskWeek 415%
Assignment 1Week 745%
Assignment 2Week 1240%

Previous study requirements


The duration of this subject is one study period (12 weeks).

Assumed knowledge

Kaplan assumes that students have completed FIN202 Fundamentals of Asset Valuation, FIN203 Fundamentals of Equity Markets, and FIN204 Fundamentals of Risk or understand the content covered in those subjects, prior to undertaking FIN338 Project Finance.

Course transition subject equivalence

Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

  • M31 Advanced Industrial Equity Analysis* PLUS
  • M41 Project Finance*
  • FIN238 Project Finance

*Both M31 and M41 must be completed to achieve one elective exemption. One subject alone will not award an exemption.

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