Projects that involve both the construction or renovation of a structure or an alteration of part of the environment are considered part of civil engineering.
5 major civil engineering projects:
Water engineering.
Construction and management engineering.
Structural engineering.
Geotechnical engineering.
Transport engineering.
Linking in Excel As discussed in Chapter 1, the definition of financial modeling is that when the inputs change, the outputs change as well. Linking in Excel is what makes this happen. If you’re just typing numbers into formulas, such as =453*12, that’s not financial modeling. You need to create a formula that links to […]
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Naming Ranges Many financial modelers like to include named ranges in their models. Named ranges are just a way of naming a cell, or a range of cells, to use it in a formula, instead of using cell references. In Figure 6-5 earlier in this chapter, I used an absolute reference to anchor the formula
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Excel Tools and Techniques for Financial Modeling hen you’re using Excel for the purpose of financial modeling, much of the emphasis is on selecting the right function to include in the formu- las to calculate the results of the model. Besides functions, a number of tools and techniques are also useful to include in your
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FINDING CIRCULAR REFERENCES If you inadvertently link a formula to itself somehow, this will cause a circular reference, which is a form of error because Excel doesn’t know how to calculate it. For more infor- mation on what causes circular references and how to correct them, turn to Chapter 14. If you know that circular
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Using Audit Tools to Find and Correct Errors When inheriting a model, there are several factors to come to grips with: the layout, design, formatting, assumptions, and formulas. Of all these, following the formula calculations is the most difficult, and verifying and validating formulas can be very time-consuming. The fastest way to understand a formula
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Inheriting a File: What to Check For When you’re inheriting someone else’s model, the best-case scenarios is a model handover meeting where you can sit down with the person who built it and he can take you through all the various moving parts. Unfortunately, this kind of meeting is rarely practical. Usually, the original modeler
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Using Someone Else’s Financial Model s a consultant, my favorite scenario is when a client comes to me and asks me to build a new model from scratch. This situation does happen every now and then, but it’s very rare. Normally, clients have a financial model that isn’t working properly, or they need to update
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Applying conditional formatting to an error check To make the error check even more prominent to the user, consider using condi- tional formatting to add a rule that makes the entire cell turn red if the error check has been triggered. On the Home Tab of the Ribbon, in the Styles group, click the Conditional
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Model with Consistent Formulas If you’re getting a model audited by a third party, one of the many things they’ll check for is the number of unique formulas in the model. A good modeler will cre- ate as few unique formulas as possible as he’s building a model. In the following example, I’m calculating portfolio
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Create Dynamic Formulas Using Links In financial modeling, you need to understand the difference between linked and hard-coded numbers. A linked number will automatically change when the source data changes. In Figure 4-5, cell C3 contains the formula =B3*$C$2. This means that if, say, the number of hours spent on the project in cell C3
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