PT - JOURNAL ARTICLE AU - Klaus Backhaus AU - Holger werthschulte TI - Identification of Key Risk Factors in Project Finance—A “Project Type”-Based Simulation Approach AID - 10.3905/jsf.2006.614084 DP - 2006 Jan 31 TA - The Journal of Structured Finance PG - 71--83 VI - 11 IP - 4 4099 - https://pm-research.com/content/11/4/71.short 4100 - https://pm-research.com/content/11/4/71.full AB - The authors describe a simulation-based risk analysis for project finance. Their metamodel estimates the effect of different input variables on overall project risk for six different “clusters,” (i.e., groups of similar projects). The following parameters are used as input variables of the metamodel: dispersion of sale price, dispersion of output level, variable and fixed cash outflows, capital expenditures, interest rate, and duration of construction phase. The effect of these variables on project risk is quantified using the estimated dispersion of the loan life cover ratio.TOPICS: Project finance, credit risk management, statistical methods