CXR_IRRP_M Investment decision-making in the management of regional development – projects microcertificate

Faculty of Economics and Administration
Spring 2024
Extent and Intensity
0/0/0. 4 credit(s). Type of Completion: k (colloquium).
Taught partially online.
Teacher(s)
doc. Ing. Vladimír Žítek, Ph.D. (lecturer)
Ing. Petr Halámek, Ph.D. (lecturer)
Guaranteed by
doc. Ing. Vladimír Žítek, Ph.D.
Department of Regional Economics – Faculty of Economics and Administration
Contact Person: Mgr. et Mgr. Tereza Kunešová
Supplier department: Department of Regional Economics – Faculty of Economics and Administration
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The aim of this course is to introduce the participants to the issues of investment decision-making in the field of preparation and implementation of regional development projects and a detailed introduction to the issues of a standard feasibility study, including an introduction to the continuity of the issue with the SEA/EIA processes. The focus of the course will be on financial and economic evaluation of projects using standard cost-benefit analysis.
Learning outcomes
This course will enable participants to:
- understand the investment decision-making process in the public sector, with a focus on projects in the areas of public amenities, transport infrastructure or tourism;
- learn the issues of feasibility study preparation,
understand its different parts and interpret its results;
- identify potential strengths and weaknesses of the project, including verification of the predictive power of the feasibility study;
- prepare a basic financial analysis of an investment project, including the calculation of outcome indicators, their interpretation o verifying the financial sustainability of the project;
- identify the socio-economic impacts of the project and their consideration in the socio-economic analysis of the project;
- identify the linkage of the aspects addressed in the feasibility study to the EIA/SEA issues (environmental impacts of the project).

The course is suitable for participants with legal education working in the field of public administration, subsidy financing, preparation of development projects, etc. to refresh their knowledge and expand their skills in the field of management and evaluation of investment projects.
Syllabus
  • Project preparation:
  • - Project definition;
  • - management of project objectives, logical framework;
  • - Rule 3E;
  • Preparation of a feasibility study:
  • - Structure of the feasibility study according to the UNIDO methodology;
  • - technical parts of the feasibility study, market analysis;
  • - project impacts on the environment, link to EIA/SEA;
  • - project readiness for implementation, technical design, project schedule and link to legislation in the area of project preparation;
  • - project management;
  • Financial and economic analysis of the project:
  • - basic principles of CBA, calculation and interpretation of result indicators;
  • - specification of capital expenditures, construction of an operating cash flow plan, evaluation of the effectiveness of the project as an investment;
  • - identification of sources of financing, evaluation of the rate of return on capital employed;
  • - verification of the financial sustainability of the project;
  • - identification of socio-economic impacts of the project, quantification of intangible impacts and determination of shadow prices, socio-economic evaluation of the project;
  • - risk analysis and final evaluation of the project.
Literature
    required literature
  • Guide to Cost-Benefit Analysis of Investment Projects - Economic Appraisal Tool for Cohesion Policy 2014-2020 (Benefit Analysis of Investment Projects - Economic Appraisal Tool for Cohesion Policy 2014-2020). 2014th ed. Brussels: European Commission, 2014, 346 pp. ISBN 978-92-79-34796-2. info
  • Economic Appraisal Vademecum 2021-2027. Brussels: European Commission, 2021, 98 pp. ISBN 978-92-76-40462-0. Available from: https://dx.doi.org/10.2776/182302. info
  • HALÁMEK, Petr. Zpracování analýzy nákladů a výnosů (Preparation of the Cost-Benefit Analysis). první. Brno: ESF MU, 2005, 73 pp. ---. ISBN 80-210-3866-7. info
  • BOARDMAN, Anthony E., David H. GREENBERG and Aidan R. VINING. Cost-benefit analysis : concepts and practice. Cambridge: Cambridge University Press; 5th edition, 2018. info
Teaching methods
Study is mainly in the form of self-study using interactive curriculum, recommended literature and 1 workshop.
Assessment methods
A prerequisite for successful completion of the course is the preparation of a seminar paper. Students choose a specific project in the field of regional development, e.g. in the field of transport infrastructure development, civic amenities, environment, energy, etc. For this project, they will prepare a logical framework of the project, a simple Gantt chart for the preparation and implementation phase and an indicative financial and economic analysis (expected to be in .xlsx format). The colloquium will be solved in the form of a defence of an independent work / project (oral or online). The final grade must be at least 60%.
There are no attendance requirements for students who are on an Erasmus stay abroad. They can take the exam directly.
Language of instruction
Czech
Further Comments
Study Materials
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/spring2024/CXR_IRRP_M