Relevant bibliographies by topics / Capital budgeting decision tools

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers

Academic literature on the topic 'Capital budgeting decision tools'

Author: Grafiati
Published: 4 June 2021
Last updated: 8 February 2022

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Journal articles on the topic "Capital budgeting decision tools"

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Kengatharan, Lingesiya. "Capital Budgeting Theory and Practice: A review and agenda for future research." American Journal of Economics and Business Management 1, no. 1 (February 2, 2018): 20–53. http://dx.doi.org/10.31150/ajebm.v1i1.5.

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The main purpose of this research was to delineate unearth lacunae in the extant capital budgeting theory and practice during the last two decades and ipso facto become springboard for future scholarships. It has analyses of various approaches, such as Web of science search and iCat search were used to locate research papers published during the last twenty years. Four criteria have been applied in selection of research papers: be an empirical study, published in English language, appeared in peer reviewed journal and full text research papers. These papers were collected from multiple databases including OneFile (GALE), SciVerse ScienceDirect (Elsevier), Informa - Taylor & Francis (CrossRef), Wiley (CrossRef), Business (JSTOR), Arts & Sciences (JSTOR), Proquest ,MEDLINE (NLM), and Wiley Online Library. Search parameters covered capital budgeting, capital budgeting decision, capital budgeting theory, capital budgeting practices, capital budgeting methods, capital budgeting models, capital budgeting tools, capital budgeting techniques, capital budgeting process and investment decision. Thematic text analyses have been explored to analyses them. Keywords: Capital budgeting theory and practices, capital budgeting tools for incorporating risk, discount rate
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Olulu-Briggs, Omiete Victoria. "The Fisher Separation Theorem And Capital Budgeting Decisions Of Quoted Firms In Nigeria." Archives of Business Research 9, no. 2 (February 28, 2021): 231–42. http://dx.doi.org/10.14738/abr.92.9735.

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This study explored the Fisher separation theorem and capital budgeting decisions of quoted firms on the Nigerian stock exchange. A sample of 60 questionnaires were filled and returned by staffs from particular sectors like manufacturing, health and agriculture. Descriptive statistics was employed to illustrate the data while the Spearman rank order correlation test was used to determine if a significant relationship exist among the variables. From the estimates, the Net Present Value and Modified Internal Rate of Return are regularly employed by firms in making capital budgeting decisions. Also, when firms employ capital budgeting tools, it creates wealth for both managers and shareholders, providing support for the Fisher’s separation theorem. Finally, a correlation coefficient of 0.827 reflect a positive and linear relationship between capital budgeting decision and Shareholders’ value creation. Thus, an increase in capital budgeting decisions result to an increase in value creation. This outcome is consistent with findings from other economies and previous studies. It thus recommends that firms in the Nigerian environment should ensure they play down on shareholders’ desire for dividends and instead redirect their funds to more investments by employing suitable capital budgeting decisions.
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Campher, Cedric Abraham, and PJ Vlok. "Building a scenario based active mapping investment tool within a physical asset management framework." South African Journal of Economic and Management Sciences 17, no. 2 (March 6, 2014): 194–206. http://dx.doi.org/10.4102/sajems.v17i2.478.

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This study explores the implementation of an integrated capital budgeting visual mapping framework comprised of both Discounted Cash Flow (DCF) and Real Options Analysis (ROA) techniques. Physical asset investment decisions are based largely on rigid discounted cash flow tools which provide untimely and incomplete decisional criteria. While literature outlines the widespread use of traditional DCF techniques, it nevertheless reveals extensive limitations, including its static inflexibility and slow-to-evolve framework. ROA is a more recent valuation tool based on stock option theory. It brings into account added value found in the flexibility of managerial decision-making and uncertain conditions. This study implements a combined DCF and ROA capital budgeting tool within a Physical Asset Management (PAM) environment. The validity of the framework is realised through an industry-relevant case study presented by a South African mining company.
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Alhabeeb, M. J. "Comparative Analysis of the Traditional Models for Capital Budgeting." International Journal of Marketing Studies 8, no. 6 (November 11, 2016): 16. http://dx.doi.org/10.5539/ijms.v8n6p16.

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<p>Financial decision making for investing firms requires metric tools for comparison and analysis. The managerial choice among many investment alternatives with complex possibilities has made it easier to rely on the now more advanced computer programs of simulation that considers the uncertainty and stochastic changes in the cash flow and risk levels. The major drawback here, especially in the academic world, is the increasing dependency on software and departing from the underlying mathematical reasoning that is most practically fathomed by the manual problem solving. This paper goes back to the tradition on analyzing and comparing the major models of capital budgeting.</p>
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McCartney, Mark W., Elizabeth M. Pierce, and Wayne Mackie. "The Bus Decision: A Case Study Employing Capital Budgeting And Creative Thinking." Journal of Business Case Studies (JBCS) 12, no. 4 (October 3, 2016): 169–76. http://dx.doi.org/10.19030/jbcs.v12i4.9794.

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This paper presents a case whose setting is a regional university situated approximately twenty-five miles away from a community. The community is home to a significant number of the university’s faculty, staff, and students. The university is asked to provide a commuter bus to transport people to and from the community. The university, in turn, approaches the community municipal bus service asking if it (the municipal bus service) could provide the requested route. The case incorporates cash flow management decision making including: (1) identifying necessary information for the analysis, (2) identifying appropriate analytical tools for the analysis, and (3) performing the analysis. This case is appropriate for first year graduate students, as well as upper level undergraduate business students. The case is designed to be taught in one class hour and is expected to require two hours of outside preparation by the students.
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Hanesti, Elsi Mersilia. "BAGAIMANA KEUANGAN ISLAM MENGGUNAKAN FAKTOR DISKONTO DALAM CAPITAL BUDGETING DECISION?" El Dinar 6, no. 2 (November 1, 2018): 83. http://dx.doi.org/10.18860/ed.v6i1.5748.

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<em>In the conventional financial management, the method of calculating the</em><em> capital budgeting decision using NPV and IRR, which both use the interest rate as one of its component count (as a discount factor). Then, how Islamic financial management sees this? With the research methods of literature study, this paper is about the financial outlook of Islam the methods of NPV and IRR as well as finding out what the proper method for capital budgeting decision. Results of the study were that in the process capital budgeting decision, the use of NPV and IRR methods are allowed (according Obaidullah, Prof. Shabir F.Ulgener, and Zarqa). The interest rate in the calculation only as a means of simplification and ease in the calculation. The use of a list of compound interest rate (compounded interest) is a tool to calculate the expected rate today and the future. It can be said that the Islamic finance uses a list of compound interest rate as a tool for simplify the calculation, just as a comparison level of opportunity cost in alternative investments. The level of interest in the calculation of these can be replaced with a comparator, such as: the return on the sukuk, the profit sharing ratio, and the return on investment or other real instruments in Islam.</em>
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Correia, C. "Capital budgeting practices in South Africa: A review." South African Journal of Business Management 43, no. 2 (June 29, 2012): 11–29. http://dx.doi.org/10.4102/sajbm.v43i2.180.

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This paper reviews the capital budgeting survey literature in South Africa over the period 1972 to 2008. The survey evidence indicates a significant growth in Discounted Cash Flow (DCF) methods and a fall in the use of other methods. In particular, there has been growth in the use of Net Present Value (NPV). Yet, the Internal Rate of Return (IRR) technique remains the primary method used in practice despite some serious drawbacks. Larger companies are more likely to use DCF methods. There has been a significant growth in the use of sensitivity analysis and scenario analysis. However, there is little use of sophisticated risk analysis tools such as Monte Carlo simulation, and decision trees. Although financial theory predicates the use of risk adjusted discount rates, surveys indicate that the majority of companies use a single firm discount rate. Companies have increasingly used inflation-adjusted cash flows but the process of ranking mutually exclusive projects is not aligned with finance theory. There is limited use of the Modified Internal Rate of Return (MIRR) method and DCF dominant companies do not outperform non-DCF dominant companies. The most important phase of project evaluation is the project definition and cash flow estimation phase and yet research studies have focused mainly on the financial analysis and project selection phase.
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Michelon, Paula de Souza, Rogério João Lunkes, and Antonio Cezar Bornia. "Use of capital budgeting practices: an integrative review." Enfoque: Reflexão Contábil 40, no. 3 (September 16, 2021): 139–57. http://dx.doi.org/10.4025/enfoque.v40i3.48838.

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This article aimed to highlight the relationships between these characteristics and the use ofcapital budgeting practices. For the selection of articles published on “capital budgeting” it wasused the Proknow-C tool. It was found that the theory-practice gap is both related with the organizationaland managerial characteristics from the practical point of view, but requires a reviewby academicians. Organizations should seek professionals with experience in capital projectsappraisal and who are familiar with and knowledgeable in the use of adequate practices for decision-making. This research contributes by indicating the research gaps that need to be explored by researchers and by trying to identify the difficulties found by managers that interfere in the capital budgeting results.
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Teker, Suat. "Revisiting discounted cash flows model as a capital budgeting decision tool." Pressacademia 12, no. 1 (December 31, 2020): 60–63. http://dx.doi.org/10.17261/pressacademia.2020.1349.

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Shaban, Osama Samih, Ziad Al-Zubi, and Ahmad Adel Abdallah. "The Extent of Using Capital Budgeting Techniques in Evaluating Manager’s Investments Projects Decisions (A Case Study on Jordanian Industrial Companies)." International Journal of Economics and Finance 9, no. 12 (November 13, 2017): 175. http://dx.doi.org/10.5539/ijef.v9n12p175.

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The aim of this research paper is to study the extent of using capital budgeting techniques on choosing the suitable project for investment. The current research study focused on capital budgeting techniques such as Net Present Value NPV, and Internal Rate of Return IRR, and Pay Back period PB, which is considered the main tools in the hands of decision makers in deciding the best possible alternative of investment. In order to achieve the purposes of the study a questionnaire have been created (based on Graham and Harvey survey in 2001), the aim was to cover most of the Jordanian industrial companies despite of their size and ownership in the current year 2017. Resolution data were analyzed using the statistical program SSPS. Finally, the study concluded that, 58% of Jordanian industrial companies use the Net Present Value, 22% use the Payback Period, 12% use the Internal Rate of Return, and the remaining used a combination of the Accounting Rate of Return, Profitability Index, and sensitivity analysis. The current research study is expected to assess management in choosing the best capital budgeting technique in the evaluation of its future investment projects.
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Dissertations / Theses on the topic "Capital budgeting decision tools"

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Marquez, Dayhana, and Malin Larsson. "Investeringsprocessen i småföretag : En studie om investeringsbeslutfattande i restaurangbranschen." Thesis, Södertörns högskola, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-33085.

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Investeringar är grunden i ett företag och därmed är investeringsprocessen ett intressant fenomen att titta närmare på. Efter att ha studerat litteratur och tidigare forskning, som tar upp problematiken i investeringsprocessen, framkom att beslutsfattarens roll är en väsentlig del vid investeringsprocessen. Studien behandlar både beslutfattarens bakgrund och val som påverkar investeringsbeslutfattande i restaurangsbranschen, beslutfattarens bakgrund och val behandlas som påverkande respektive förklarande faktorer. Studien syftar på att ta reda på om och i vilken omfattning belutfattarens bakgrund påverkar sina val i investeringsprocessen. Genom att tillämpa en kvantitativ metod i form av en enkätundersökning lyftes beslutsfattarens bakgrund och investeringsprocess fram. Utifrån enkätundersökningen gjordes en statistisk analys för att hitta eventuella samband mellan de påverkande samt förklarande faktorerna. Resultatet av enkätundersökningen och statistiska analysen visade att det fanns starka samband mellan faktorer såsom kön, ålder, investeringsrutin, kalkylanvändning, utbildningstyp och utbildningsnivå. Detta bekräftar tidigare forskning och teorier om beteendeinriktad investeringsbeslutfattande.
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Chansa-ngavej, Chuvej. "Decision criteria under uncertainties in multiperiod capital budgeting /." The Ohio State University, 1989. http://rave.ohiolink.edu/etdc/view?acc_num=osu1487673114113369.

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Pinion, Michael G. "Capital budgeting model for a nuclear power plant using multiattribute decision analysis." Master's thesis, This resource online, 1990. http://scholar.lib.vt.edu/theses/available/etd-03302010-020151/.

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Hodgkinson, Lynn. "The impact of taxation on the capital budgeting decision of corporate groups." Thesis, University of Plymouth, 1987. http://hdl.handle.net/10026.1/2531.

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The United Kingdom Tax system is not neutral with respect to a Company’s investment and financing decisions, that is incentives and disincentives to invest in particular projects or use particular types of financing arise through the imposition of taxation. Such biases may increase or decrease the value of capital projects, and if a company is to be certain of making accurate investment decisions the incremental tax flows arising due to the project must be included in the evaluation. The tax flows arising through the acceptance of a project may differ depending on the company's or group's tax profile, and therefore the overall tax position of the company or group must be considered. The thesis explains the legislation relating to the taxation of corporate groups and suggests that because the tax system is so complicated, a computerised model is probably necessary. The author's computerised model is developed and tested in the thesis, comparing evaluations conducted using the procedures and assumptions of groups in the surveys, with those of the simulation model. It is shown that both understatements and overstatements occur through incorrectly allowing for taxation. The results of two empirical surveys are presented. The first, a postal survey, discusses the methods used by companies to incorporate tax in their project appraisals, and the second, based on interviews, provides a review of the whole capital budgeting process.
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Skipper, Lee R. "Development of a microcomputer-based capital budgeting algorithm for the dynamic decision environment." Thesis, Virginia Polytechnic Institute and State University, 1985. http://hdl.handle.net/10919/101266.

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The capital budgeting process is conducted in a dynamic, uncertain environment. In each period of the process, a manager has only estimated values for system parameters, project costs, and project returns. The manager must consider project firm's capital among interdependencies the available in allocating the projects. After completing the allocation process in one period, the chosen projects are funded until the end of the next period. These projects are then considered along with new projects and the process is repeated again. The capital budgeting decision in one period is therefore only one of a long sequence of such decisions, all of which are made in a dynamic, uncertain environment. The algorithm presented in this study models the dynamic environment of uncertainty. The algorithm utilizes a future worth of net return criterion in conducting the decision. Available projects may be estimated as discrete point estimates or as combinations of continuous functions. All projects under consideration need not have the same life; unequal-lived projects may be considered. After the optimal combination of projects is identified, four sensitivity analyses may be run to analyze the effect of any uncertainty in that period. The dynamic environment may then be analyzed by simulating the environment which would be faced when the decision is made .again at the end of the next period. Any of the system parameters and estimates of the continuing projects may be altered in that period to reflect the changes in the last period's estimates. An example is provided to illustrate the workings of the algorithm.
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Zanibbi, Louis R. "Management control and capital budgeting : an empirical investigation into the capital investment decision-making behaviour of managers." Thesis, University of Bradford, 1989. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.259190.

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Liang, Yi. "Capital budgeting decision-making: Database, aggregation and disaggregation methods for a large scale problem." Thesis, University of Ottawa (Canada), 1994. http://hdl.handle.net/10393/6714.

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Morales, Burgos Jaime Antonio. "Capital budgeting decision making, national culture and bounded rationality : a regional comparative study of Canadian and Mexican entrepreneurs." Thesis, University of Stirling, 2017. http://hdl.handle.net/1893/25954.

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This study is located in the rather young area of international entrepreneurship research. Despite the vast literature in Western countries exploring the nexuses on entrepreneurship-national culture and entrepreneurship-decision making, we know very little about how bounded rationality and national culture affect the entrepreneur’s capital budgeting decision making in emerging economies. Past research on small business and capital budgeting shows a predominance of quantitative approaches to identify which capital budgeting techniques were used and why they are used. Through qualitative interviews with 20 Mexican and 20 Canadian participants, this study looks at how Mexican and Canadian entrepreneurs approach capital budgeting decisions in small businesses in the food sector industry. This study confirms that capital budgeting decisions are taken under conditions of bounded rationality, but also suggests that context affects how bounded rationality is used. For instance, Mexican entrepreneurs rely more on “gut feeling”, while Canadian entrepreneurs tend to combine intuition with business plans. The differences observed for both national samples are further discussed through a Hofstedian and a GLOBE lens. I argue that national culture affects how capital budgeting decisions are made throughout the decision making process (planning, identifying, evaluating, selecting and authorizing) and also that national culture plays a role for who influences the entrepreneurs’ decisions. By contextualizing capital budgeting decisions and using a constructivist logic of discovery, this study provides insights into entrepreneurs’ capital budgeting decision making in small businesses and suggests that national cultural differences play a valuable part in understanding this important aspect of entrepreneurial activity. This thesis also adds to our understanding of entrepreneurs in emerging economies.
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Mills, Roger W. "Influences upon the capital budgeting decision : an analysis of the influence of senior central and divisional management in large, divisionalised UK companies." Thesis, Henley Business School, 1985. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.305307.

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Arvidsson, Oskar, Emil Johannesson, and Pierre Johansson. "Investeringsprocesser i ett divisionaliserat företag : -En fallstudie inom Södra Skogsägarna." Thesis, Linnéuniversitetet, Ekonomihögskolan, ELNU, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-21593.

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I denna uppsats studeras investeringsprocesser i det divisionaliserade företaget Södra Skogsägarna ekonomisk förening. Studiens syfte är att beskriva och förklara företagets investeringsprocesser och i vilken utsträckning dessa processer är standardiserade. I studien analyseras dessa investeringsprocesser utifrån befintlig teori. Studien visar att investeringsprocesser initieras i den operativa verksamheten för att sedan drivas fram i den operativa verksamheten och i ledningen på enhetsnivå. Beslut fattas på alla nivåer i företaget efter investeringars storlek. Vidare visar studien att det både finns stora likheter och skillnader mellan divisionernas investeringsprocesser. Likheter har ofta sin grund i företagets investeringsinstruktioner medan skillnader ofta har sin grund i divisionernas olika egenskaper och förutsättningar.
This essay studies the capital resource allocation process in the divisionalized company Södra Skogsägarna ekonomisk förening. The study aims to describe and explain the company's capital resource allocation processes and to describe and explain to what extent these processes are standardized. The study analyzes these processes using existing theory on the subject. The study shows that the capital resource allocation process is initiated by the operational levels of the firm and then integrated by the operational levels and the business unit management. Decisions are made at all levels of the company based on the capital expenditure. The study also shows that there are both major similarities and differences between the divisions’ capital resource allocation processes. The similarities are often a result of the company's capital budgeting manual while the differences often due to the different characteristics and environments of the divisions.
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Books on the topic "Capital budgeting decision tools"

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Seymour, Smidt, ed. The capital budgeting decision: Economic analysis of investment projects. 9th ed. New York: Routledge, 2007.

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Seymour, Smidt, ed. The capital budgeting decision: Economic analysis of investment projects. 7th ed. New York: Macmillan, 1988.

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Bierman, Harold. The capital budgeting decision: Economic analysis of investment projects. 8th ed. New York: Macmillan Pub. Co., 1993.

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Keat, Paul G. Managerial economics: Economic tools for today's decision makers. 2nd ed. Upper Saddle River, NJ: Prentice Hall, 1996.

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Keat, Paul G. Managerial economics: Economic tools for today's decision makers. 2nd ed. New Jersey, N.J: Prentice Hall International, 1996.

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Y, Young Philip K., ed. Managerial economics: Economic tools for today's decision makers. 5th ed. Upper Saddle River, NJ: Pearson Education, 2005.

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Keat, Paul G. Managerial economics: Economic tools for today's decision makers. 6th ed. Upper Saddle River, N.J: Pearson Prentice Hall, 2009.

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Y, Young Philip K., ed. Managerial economics: Economic tools for today's decision makers. New York: Macmillan, 1992.

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Brown, Clifton E. An experimental investigation of alternative explanations for hindsight effects in appraisal of capital-budgeting decisions. [Urbana]: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, 1989.

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Mills, Roger W. Influences upon the capital budgeting decision: An analysis of the influence of senior central and divisional management in large, divisionalised UK companies. Uxbridge: Brunel University, 1985.

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Book chapters on the topic "Capital budgeting decision tools"

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Bierman, Harold. "Capital Structure and Capital Budgeting Decisions." In The Capital Structure Decision, 115–35. Boston, MA: Springer US, 2003. http://dx.doi.org/10.1007/978-1-4615-1037-6_8.

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Biondi, Yuri, and Giuseppe Marzo. "Decision Making Using Behavioral Finance for Capital Budgeting." In Capital Budgeting Valuation, 421–44. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2013. http://dx.doi.org/10.1002/9781118258422.ch22.

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Grob, Heinz Lothar. "Decision and Control." In Capital Budgeting with Financial Plans, 202–24. Wiesbaden: Gabler Verlag, 1993. http://dx.doi.org/10.1007/978-3-663-09476-0_6.

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Ammons, David N., and Dale J. Roenigk. "Simple options for annualizing costs of capital items." In Tools for Decision Making, 224–35. 3rd ed. London: Routledge, 2021. http://dx.doi.org/10.4324/9781003129431-22.

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Nawaiseh, Mohammad Ebrahim, Hala Al-nawaiseh, Moh’d Attar, and Azeez Al-nidawy. "The Use of Capital Budgeting Techniques as a Tool for Management Decisions: Evidence from Jordan." In Lecture Notes in Mechanical Engineering, 301–9. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-74123-9_32.

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Lin, Kuo-Sui, and Jui-Ching Pan. "Modeling a Multi-criteria Decision Support System for Capital Budgeting Project Selection." In Intelligent Information and Database Systems, 137–47. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-54430-4_14.

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Lee, Cheng-Few, and Tzu Tai. "The Statistical Distribution Method, the Decision-Tree Method and Simulation Method for Capital Budgeting Decisions." In Encyclopedia of Finance, 813–23. Boston, MA: Springer US, 2012. http://dx.doi.org/10.1007/978-1-4614-5360-4_70.

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Tang, Yu-Cheng, and Ching-Ter Chang. "Integration of Financial and Non-financial Information for Decision-Making by Using Goal Programming and Fuzzy Analytic Hierarchy Process on a Capital Budgeting Investment Case Study." In Advances in Intelligent Decision Technologies, 171–79. Berlin, Heidelberg: Springer Berlin Heidelberg, 2010. http://dx.doi.org/10.1007/978-3-642-14616-9_16.

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Yılmaz, Fatih. "Budgeting as a Tool for Sustainable Development." In Handbook of Research on Supply Chain Management for Sustainable Development, 42–60. IGI Global, 2018. http://dx.doi.org/10.4018/978-1-5225-5757-9.ch003.

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Corporations are profit-oriented organizations. If they do not have enough profit, they cannot survive. The expectations and forecasts have a key role in decision making. Thorough those expectations and forecasts, a scenario is developed. If a scenario contains financials, it means that a budget is prepared. Budget is a kind of financial simulator of a business. Budgeting is a vital tool in financial management for sustainable development. Budgeting also maintains the effectiveness of capital and resource of the company. There is diversity in the budgets of each sector or each industry. Manufacturing, logistics, airlines, construction, hospitality, and others have sectoral differences in budgeting. In this chapter, objectives of budgeting, budgeting methods, steps in budgeting, sectoral differences, relationship between budgets, and strategic planning are discussed.
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"Capital Budgeting Tools." In Mastering Corporate Finance Essentials, 57–76. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2012. http://dx.doi.org/10.1002/9781118258170.ch4.

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Conference papers on the topic "Capital budgeting decision tools"

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Jones, Bradley M., and André-Michel Ferrari. "Value of Reliability, Availability and Maintainability (RAM) Simulation Models in Pipeline Systems." In 2016 11th International Pipeline Conference. American Society of Mechanical Engineers, 2016. http://dx.doi.org/10.1115/ipc2016-64205.

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Reliability, Availability and Maintainability (RAM) models were first developed in Enbridge Liquids Pipelines in 2006 and in the last 3 years have contributed over $200 Million in capital cost avoidance while maintaining or improving the reliable design and operation of the pipeline system. These models constitute a very effective, factual and dependable tool to assess the throughput performance of a pipeline system over its entire life cycle or a specified time of interest. In addition, the RAM model cost is a small fraction of the overall monetary benefit, in the order of 1%, hence making RAM models a highly leveraged activity. The concept of a RAM model stems from Reliability Block Diagram methods (also known as Dependent Diagrams). Interaction of large, complex and multi layered systems can then be analyzed using the Monte Carlo simulation methods (or Stochastic Discrete Event Simulation) hence quantifying the output of the entire system with greater accuracy than other estimating tools or methods. Over 10 years, Enbridge Liquids Pipelines has developed its own failure database for equipment and operational events consequently almost all model inputs are based on in-house data rather than industry generic data, making the model output more robust, accurate and appropriate for internal use. Initially, in Enbridge Liquids Pipelines, RAM models were mainly built to assess and confirm the design capabilities of future pipelines designs and assist in the optimal selection of specific design options. Because of the effectiveness of the tool combined with the current cost constrained business environment, the company is moving towards building RAM models for assets already in operation in order to optimize their performance. This is proving to be an extremely cost effective addition to internal decision making processes. The approach has been used in risk based budgeting, asset maintenance, design modifications and throughput optimization initiatives. In various industries including Oil and Gas, RAM models have proven their worth over time as an effective cost avoidance tool. This approach has now been successfully deployed in the Pipeline Industry at Enbridge. As an example, a RAM model conducted during the design phase of a pipeline project saved $28 million in capital by proving that an additional storage tank and significant new infrastructure was not required. Another benefit of RAM models has been their ability to confirm or counter stated assumptions by internal stakeholders. Equipment upgrades and equipment sparing decisions are often seriously debated and costly decisions may not always be based on complete economical foundations but rather on avoiding past negative experiences or by following basic guidelines that are less than optimal. When a project or operational team needs to find an alternative, a RAM model is a tool of choice to evaluate, and justify the best option. Because of its proven value, RAM models are now an integral part of Enbridge Liquids Pipelines Design Standards and are used on all large projects. Models recently built for operational pipelines delivered similar value so in the near future the work will be expanded to encompass the entire existing network of integrated pipelines to improve on performance and operational costs.
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Wu, Lianghua. "The Influence of Affect on Capital Budgeting Decision." In 2010 International Conference on E-Product E-Service and E-Entertainment (ICEEE 2010). IEEE, 2010. http://dx.doi.org/10.1109/iceee.2010.5660128.

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Xiaoling Cui, Dazhi Wang, and Yang Yan. "AES algorithm for dynamic knapsack problems in capital budgeting." In 2010 Chinese Control and Decision Conference (CCDC). IEEE, 2010. http://dx.doi.org/10.1109/ccdc.2010.5499007.

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Mohamed, Amr, and Mohamed Kamal. "e-Learning Capital Budgeting Decision Models: A Comparative Analytical Study." In 2015 Fifth International Conference on e-Learning (econf). IEEE, 2015. http://dx.doi.org/10.1109/econf.2015.46.

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Song, Fengming, and Ping Liang. "Decision support system for capital investment risk analysis." In Optical Tools for Manufacturing and Advanced Automation, edited by Bruno Bosacchi and James C. Bezdek. SPIE, 1993. http://dx.doi.org/10.1117/12.165036.

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Craven, B. D., and Sardar M. N. Islam. "Some new models for capital budgeting: realistic representations of financial decision making by firms." In 2009 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2009. http://dx.doi.org/10.1109/ieem.2009.5373331.

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Hai¨k, P., K. Fessart, E. Remy, and J. Lonchampt. "Overview of EDF Life Cycle Management and Nuclear Asset Management Methodology and Tools." In 16th International Conference on Nuclear Engineering. ASMEDC, 2008. http://dx.doi.org/10.1115/icone16-48911.

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The long term management of a production asset raises several major issues among which rank the technical management of the plant, its economics and the fleet level perspective one has to adopt. Decision makers are therefore faced with the need to define long term policies (up to the end of asset operation) which take into account multiple criteria including safety (which is paramount) and performance. In this context, EDF “PWR Durability I & II” research projects have consecutively been launched, since 2001, at EDF - Research & Development in order to develop methods and tools for EDF fleet. The aim of this paper is to summarize and analyze the research work that has been performed by EDF - R&D (in the field of decision making for nuclear power plant maintenance and operation) during the past seven year, in order to characterize the issues that have been or could be addressed with the developed methodology and tools. As a result, in this paper, we first remind the reader of the EDF overall methodology for asset management and its adaptations to plant-level life cycle management and to fleet-level component major replacement or capital investment management. We then focus on the three software tools that implement this methodology in order to allow decision makers, in several different contexts (life-cycle management, plant level operation and maintenance optimization, major component replacement ...) to define, evaluate and analyze long term plant operation and maintenance policies, major component replacement policies and capital investment strategies. We also show how the methodology and the software tools were used, from 2003 to 2007, on several pilot case studies. Examples of technical and economic results obtained for two pilot case studies (one at the plant level, the other at the fleet level) are described as well as the kinds of conclusions one can draw from them in order to help decision makers evaluate and analyze long term asset management strategies or compare different plants. We also analyze the added value of probabilistic evaluations and of our “rolling-up” process that allows to take into account interactions between the components of the plant or between the plants. Finally, we propose a classification of issues that can be addressed with our methodology and tools and introduce some perspectives for our future work.
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Wasi, S. Raza, and J. Darren Bender. "Spatially Enabled Pipeline Route Optimization Model." In 2004 International Pipeline Conference. ASMEDC, 2004. http://dx.doi.org/10.1115/ipc2004-0362.

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An interesting, potentially useful, and fully replicable application of a spatially enabled decision model is presented for pipeline route optimization. This paper models the pipeline route optimization problem as a function of engineering and environmental design criteria. The engineering requirements mostly deal with capital, operational and maintenance costs, whereas environmental considerations ensure preservation of nature, natural resources and social integration. Typically, pipelines are routed in straight lines, to the extent possible, to minimize the capital construction costs. In contrast, longer pipelines and relatively higher costs may occur when environmental and social considerations are part of the design criteria. Similarly, much longer pipelines are less attractive in terms of capital costs and the environmental hazard associated with longer construction area. The pipeline route optimization problem is potentially a complex decision that is most often undertaken in an unstructured, qualitative fashion based on human experience and judgement. However, quantitative methods such as spatial analytical techniques, particularly the least-cost path algorithms, have greatly facilitated automation of the pipeline routing process. In the past several interesting studies have been conducted using quantitative spatial analytical tools for finding the best pipeline route or using non-spatial decision making tools to evaluate several alternates derived through conventional route reconnaissance methods. Most of these studies (that the authors are familiar with) have concentrated on integrating multiple sources of spatial data and performing quantitative least-cost path analysis or have attempted to make use of non-spatial decision making tools to select the best route. In this paper, the authors present a new framework that incorporates quantitative spatial analytical tools with an Analytical Hierarchical Process (AHP) model to provide a loosely integrated but efficient spatial Decision Support System (DSS). Specifically, the goal is to introduce a fully replicable spatial DSS that processes both quantitative and qualitative information, balances between lowest-cost and lowest-impact routes. The model presented in this paper is implemented in a four step process: first, integration of multiple source data that provide basis for engineering and environmental design criteria; second, creation of several alternate routes; third, building a comprehensive decision matrix using spatial analysis techniques; and fourth, testing the alternative and opinions of the stakeholder groups on imperatives of AHP model to simplify the route optimization decision. The final output of the model is then used to carry out sensitivity analysis, quantify the risk, generate “several what and if scenarios” and test stability of the route optimization decision.
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Hai¨k, P., S. Parfouru, K. Fessart, J. Lonchampt, and E. Remy. "“Adaptative” User Interface as a Support for Evaluation Analysis in the Context of Asset Management." In ASME 2008 Pressure Vessels and Piping Conference. ASMEDC, 2008. http://dx.doi.org/10.1115/pvp2008-61505.

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The long term management of a production asset raises several major issues among which rank the technical management of the plant, its economics and the fleet level perspective one has to adopt. Decision makers are therefore faced with the need to define long term policies (up to the end of asset operation) which take into account multiple criteria including safety (which is paramount) and performance. In this context, EDF “PWR Durability I & II” research projects have consecutively been launched, since 2001, at EDF – Research & Development in order to develop methods and tools for EDF fleet. The aim of this paper is: • to summarize and analyze the research work that has been performed by EDF – R&D in the field of decision making for nuclear power plant maintenance and operation during the past seven year; • to highlight the strong and weak points of the developed methodology and tools and to identify the research work needed in order to ensure their use by EDF decision makers; • to introduce and illustrate our last development based on the use of an “adaptative” man/machine user interface in order to allows technical/strategic experts and decision makers to consult the useful pieces of knowledge in a context dependent way and, thus, facilitate the validation of the knowledge-base content and the analysis of the processed results. As a result, in this paper, we first remind the reader of the EDF overall methodology for asset management and its adaptations to plant-level life cycle management and to fleet-level component major replacement or capital investment management. We then focus on the three software tools that implement this methodology in order to allow decision makers, in several different contexts to define, evaluate and analyze long term plant operation and maintenance policies, major component replacement policies and capital investment strategies. We also show how the methodology and the software tools were used, from 2003 to 2007, on several pilot case studies. Examples of technical and economic results obtained for plant level pilot case study is quickly described as well as the kinds of conclusions one can draw from them in order to help decision makers evaluate and analyze long term asset management strategies or compare different plants. We then present the opinion of EDF’s decision makers about the developedmethodology and tools — and their use — and our understanding of their feedback. Lastly, we illustrate, using examples of technical and economic knowledge, data and results obtained from our previous pilot case studies, how the concept of an “adaptative” man/machine user interface could be used in order to facilitate the mastering of the methodology and tools’ complexity and to support decision makers’ evaluation and analysis of long term asset management strategies.
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Urra, Susan. "Evolution of Process Hazard Analysis in an Oil and Gas Pipeline Company: From Ad-Hoc to an Enterprise Standard Practice." In 2012 9th International Pipeline Conference. American Society of Mechanical Engineers, 2012. http://dx.doi.org/10.1115/ipc2012-90302.

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Enbridge’s decision to formalize a Process Hazard Analysis (PHA) program has taken the organization through a journey from an informal/ad hoc practice to a rigorous, standardized, best-practice-based process with selected methodologies and tools being applied to all capital and operation projects in the company. This paper begins with a description of past hazard practices in the oil and gas pipeline industry in relation to the application of a hazard analysis. The oil and gas pipeline industry is governed by PHMSA, NEB, TSB, and provincial OHSA regulations, but is not regulated by OSHA or EPA RMP. Using this regulatory framework as a reference, a standard corporate PHA at Enbridge was developed and implemented. The paper describes the process, the methodologies, and the associated templates and tools. The implementation strategy is also discussed, including training deployment and communication plans. Finally, a road map for continuous improvement describes how to make the process sustainable by closing the current process gaps in relation to best practices and achieving a maturity stage of execution.
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