This course concentrates on the financial appraisal of projects. The financial appraisal is widely used as an effective tool for decision making in (1) manufacturing business:  invest or not invest a project, (2) credit suppliers: accept or reject a credit profile, (3) government organizations: issue or not issue an investment licence. This course will be divided into two main parts. The first part will focus on the basics of financial analysis, including the construction of cash flow statements in terms of both direct and indirect methods, discounting techniques, alternative investment criteria, selection of a project’s optimal scale and starting time, analysis of inflation effects on the viability of projects, cost of capital. The second part will discuss the project financing and risk analysis. Note that this course will not consider the economic analysis and stakeholder analysis of projects.