PHASES OF CAPITAL BUDGETING
PHASES OF CAPITAL BUDGETING
Capital budgeting is a complex process which may be divided into six
Planning: The planning phase of a firm's capital budgeting process is concerned with the articulation of its broad investment strategy and the generation and preliminary screening of project proposals. The investment strategy of the firm delineates the broad areas or types of investments the firm plans to undertake. This provides the framework which shapes, guides, and circumscribes the
