Overview

The aim of this non-technical course is to develop an understanding of modern finance theory and practice for organisations managing cultural heritage. It provides the basic concepts, fundamental approaches and key tools for aspiring decision makers who do not necessarily hold financial positions or backgrounds. It equips students with state-of-the art tools, methodologies and ideas needed in making and analysing the two key decisions in finance concerning Investments and Financing. Participants understand the key issues affecting finance decisions, appreciate the risk-return trade-off and are enabled to evaluate capital investment projects using different methodologies. Students become familiar with the key goals, concepts, stakeholders, problems, decisions, variables, imitations and tools involved in the financial management of an archaeological site as a tourist destination. They are enabled to build simple budgets and financial forecasts and utilise them in order to substantiate business plans and capital budgeting decisions. Finally, they understand the various financing options, sources and procedures that are available for funding investments.