May 28 – June 23, 2023

The four-week Project Appraisal and Risk Management training program teaches financial, economic, stakeholder, and risk analysis and risk management through real and applied case studies, lectures and group discussions.

The workshop takes you through a flexible appraisal framework designed to handle different types of projects, from  infrastructure investments and social programs to commercial enterprises and utilities. It also covers a wide range of issues such as environmental impacts, risk management and poverty reduction. Leading experts in specialized areas are also invited to address participants. Additionally, you will work with other participants to complete a project in your own sector of interest.

About the Program

duke campus spring sanford school


US/European Application Deadline: May 8, 2023

Deadline for All Other Applicants: April 15, 2023

Tuition Due: May 15, 2023

Non-US Participants Arrive on Campus:  May 27, 2023

Orientation: May 28, 2023

Program: May 29 – June 23, 2023

Application Deadline: June 18, 2021

Tuition Due: June 25, 2021

Program: June 28 – July 23, 2021


All classes will be held at the Duke University Sanford School of Public Policy on Duke’s beautiful west campus, located in the vibrant city of Durham, North Carolina.


Email the ExEd Team at


Interested in hearing more about similar courses on public financial management?

Check out DCID’s summer course on Tax Analysis and Revenue Forecasting.

About the Faculty

Fernando Fernholz

Fernando R. Fernholz is Director of the Program on Project Appraisal and Risk Management (PARM) at DCID and is a Professor of the Practice at Duke University where he teaches Economic Development, Policies for Development and Public Finance Courses. He has been faculty of the PARM program since 1985. He has lectured on public debt, finance, balance of payments, macroeconomic issues in courses and workshops in various countries in different regions and agencies like the World Bank. He was a Development Associate working with the Public Finance Group of HIID and was resident advisor in different countries in Asia and Africa. He has done short-term advisory work in countries such as Russia, India, Panama, Bolivia, Ethiopia, Zambia, Uganda, Namibia, and Mozambique. He recently co-authored two studies: expansionary public investment impacts during the financial crisis in 2013 and the economic opportunity cost of capital (or the discount rate) for Mexico in 2014.This work was updated in 2017. Dr. Fernholz headed his own consulting, construction and data processing companies for many years in Bolivia. His education includes a Master of Civil Engineering from the RWTH Aachen in Germany, Master of Public Administration at the Kennedy School of Government and a Ph.D. in Economics from Boston University.

Throughout the program, Dr. Fernholz invites guest lectures from Duke University faculty representing different disciplines and perspectives, and senior practitioners in project appraisal and risk management from international organizations, financial institutions, and other prominent development institutions also instruct during this workshop.

PARM alumni discuss how the skills they learned in the program have made a difference in their work

Ready to Join Us?

COVID-19 Information

At this time, DCID’s Executive Education plans to hold our PARM 2022 program in-person. M&EDP, TPRE and Behavioral Economics will be held online in 2022. Our team is constantly monitoring the dynamic situation and will provide updates in accordance with the latest information and guidance from Duke University officials and local authorities. Please monitor this webpage for these important updates. You may also review our FAQs, or send our team an email with any questions. 

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