Insights from Formuly

Sharing what we've learned, what we're building, and what we believe matters for the future of project finance.

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Latest Perspective EDF and LGD are still waiting to enter the chat… PF ratios don't measure risk they measure comfort have a think about that....and of course AI is solving this. If these two acronyms are new then read on.

Nick Crawley 9 Jun 2026

Making the case For IT: making the case for approving Formuly One page on security, data handling, and how Formuly fits into your existing systems.
Perspectives EDF and LGD are still waiting to enter the chat… PF ratios don't measure risk they measure comfort have a think about that....and of course AI is solving this. If these two acronyms are new then read on. 9 Jun 2026 – Nick Crawley
Perspectives The LCoE blind spot that many miss from a long run perspective. When you stop looking at the latest project being landed by the top advisors and developers and start looking at actual performance, the cheapest project on paper is rarely turns out that way. 5 May 2026 – Nick Crawley
Perspectives Your IRR is not a number it’s a distribution curve. 14.34% sounds precise. It isn’t. It’s a stab at the centre of a distribution most committee papers don’t present - and that omission is how investment decisions get made - risking false confidence. 28 Apr 2026 – Nick Crawley
Perspectives AI is closing more gaps than it's opening in model assurance. There is a growing body of commentary on the gaps AI is generating across professional services. Much of it is thoughtful. Most of it stops short of the harder conversation... 31 Mar 2026 – Nick Crawley
Perspectives Your capex scenario wrong - AI knows it... Things a Model Auditor won't tell you - 16,000 projects and 30 years of empirical research actually tell us about capex risk in project finance - and why your model is wrong. Sorry! 23 Feb 2026 – Nick Crawley
Perspectives Your financial model is only as good as the thinking that preceded it. Templates failed. Excel shortcut add-ins failed. Hiring domain experts didn't solve it. The pro moves come from architecture and dimensional thinking - baked in with battle scars. 23 Feb 2026 – Nick Crawley
Perspectives Model audit vs epistemic transparency The "slow to move model audit industry" is facing a technological onslaught primarily around epistemic transparency, whilst they are learning AI and having meetings about it - hey need to hurry up. 19 Feb 2026 – Nick Crawley
Perspectives How AI modelling reshapes value in investment banking. The low entropy "grunt work" component of the financial modelling workflow is disappearing, reallocating value to sharp commercial judgement and soft skills earlier on. 13 Feb 2026 – Nick Crawley
Perspectives WACC stop thinking in values - start thinking in systems - AI is already doing it. An investment is a system that resolves risk through time - those that adapt will be more precise and more competitive. Scarce capital deserves models that reflect that reality. 3 Feb 2026 – Nick Crawley
Making the case For your manager: making the business case for Formuly One page on time back, fewer review cycles, and what it costs.
Making the case For your team: proving the benefits of Formuly One page on less repetitive work, more control, and keeping analysts focused on what matters.

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