2. Project Transaction Costs Investment Costs/ Risk Areas of Concern C.E.R.

3. Project Cost Preparation Stage Implementation & Operation Stage Project Completion Stage

4. Project Cost (Generic) Preparation Stage Due diligence *legal *financial *economic securing host and Developed country approvals

5. Project Cost Preparation Stage Implementation & Operation Stage Project Completion Stage

6. Project Cost Implementation & Operation Stage Purchase of CER Shadow Compliance Check w/ Monitoring Verification Plan (initial /periodic)

7. Project Cost Preparation Stage Implementation & Operation Stage Project Completion Stage

8. Project Cost End of Period Review of Project Completion Stage

9. Project Transaction Costs Investment Costs/ Risk Areas of Concern C.E.R.

10. Project Transaction Costs Investment Costs/ Risk Areas of Concern C.E.R.

11. Investment Cost / Risk Investment Structure Safety Liquidity Yield

12. Investment Cost / Risk Safety Traditional security acceptability or eligibility market based hedging systems i.e. guarantee

13. Investment Cost / Risk Liquidity Interest and/or principal repayments structure (for debt) restructuring cut loss options Hedging Mechanisms

14. Investment Cost / Risk Yield Project IRR vs market interest rates forex rates CER Price vs Market Price Hedging Mechanisms

15. CER Cost / Risk Quantity CER Production vs Actual Results Carbon Hedging

16. CER Cost / Risk Quality CER Production cost vs Market