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The key points from this module are as follows:

• The main types of financial models that can be built using Microsoft Excel are as follows:
- Project Finance Model
- Pricing Model
- Cashflow Model and Integrated Financial Statements
- Valuation Model

• Errors develop in Excel models for the following reasons:
- Over-complexity
- Re-using Previous Models
- Delegation of Responsibility
- A Lack of Boundaries

• The five key steps that should be taken before starting to build a model are as follows:
- Identify all the Stakeholders in the Model
- Define the Problem that the model will Address
- Agree on the Assumptions for the Model
- Get Good Data
- Plan your Outputs

• Projects, products and services go through a lifecycle with the following stages:
- Development
- Introduction
- Growth
- Maturity
- Decline

• The three main causes of problems in Net Present Value (NPV) models are:

- The Input Data
- The Discount Rate
- Inflation