We are delighted to announce that Corality will again play a part in the annual European Spreadsheet Interests Group (EuSpRIG) conference. Known as the leading model risk conference globally, EuSpRIG 2014 will be held at Technical University of Delft, The Netherlands in July. Haydn Palliser, Corality’s London Director and Rickard Wärnelid, Corality’s Managing Director, will present ‘Mapping of the financial modelling ecosystem in large scale infrastructure projects’ at the 2014 EuSpRIG conference.
EuSpRIG is an independent body set up to provide information on practical methods to reduce risk in spreadsheets. Academics, students and professionals come together to share ideas and solutions to reduce model risk in an on-line forum, and with their annual conference.
Mapping a financial modelling ecosystem for a large scale infrastructure project
Infrastructure is one of the largest areas for investment globally in 2014.
Infrastructure decisions require robust analysis which will stand up to the test over the lifetime of the project, which in some cases can run for many years.
From greenfield project development to refinancing, valuations and expansions, initiatives are scrutinised by a range of stakeholders, to ensure agreement and buy-in across the board.
As such, it is imperative to keep a project’s financial model simple and transparent, allowing for a structured planning process which reduces complex, dysfunctional decision making and long-term problems.
As infrastructure initiatives are often very lengthy, different individuals will likely be responsible for the financial model over the lifetime of a project. As such, it is important to develop a flexible system that allows an ease of exchange between the people involved in the process.
A ‘financial modelling ecosystem’ describes the big picture in spreadsheet analysis for these projects. This ecosystem recognises the behaviour of the processes, data and people involved in building a financial modelling framework, which will allow for robust, transparent and rapid analysis over the project’s life.
We asked Haydn Palliser what he is looking forward to at the conference:
“I am interested in sharing ideas and hearing other views from academics and professionals alike regarding the future of models and model risk. I believe some good discussions will come to light around the differences in best practice and spreadsheets, versus non-spreadsheet solutions,” says Haydn.
As promised in its program, the 2014 EusPRIG conference is shaping up to be an exciting forum which will provide a lot of interesting and practical content.
We at Corality are very pleased to continue expanding our European footprint. We look forward to the opportunity to network with like-minded peers, sharing insights on spreadsheet risk reduction in The Netherlands in July.
We hope to see you at EuSpRIG 2014.