SLBC Article – Rohit Pandey and Team

At Synergy Consulting, Inc., much of our work—across bidding, refinancing, M&A, and policy advisory—ultimately comes down to the financial model. Over time, one recurring issue has stood out: circularity in project finance models and the growing reliance on iterative techniques to manage it.

While these techniques are widely used and often effective, they can introduce practical challenges as models grow in size and complexity. Over time, this may affect model run-time, ease of review, and transparency for decision-makers—particularly during time-sensitive phases such as bid submissions or financing discussions.

In this article, Rohit Pandey (Managing Director), Selva Kumar (Director), and Ravi Lakhlan (Senior Associate) at Synergy Consulting, Inc. discuss a new approach to project finance modelling—the Coefficient Matrix Method.

The paper introduces a structured framework that addresses circularity at its root. Instead of relying on repeated recalculation, the approach restructures construction-phase funding and costs so that debt, equity, and financing charges align consistently by design.

The objective is not mathematical elegance for its own sake, but to improve how models are used in practice—by enhancing clarity, enabling faster analysis as complexity grows, and ensuring more reliable outputs at critical decision points. The approach has been tested within full-scale project finance models.

The attached article reflects Synergy Consulting’s continued commitment to developing practical, high-quality solutions that enhance efficiency and rigor across our work, and to advancing practitioner-led thought leadership in project finance.