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| Author: | Moolman, G. Fabrycky, W. |
| Title: | A capital budgeting model based on the project portfolio approach avoiding cash flows per project |
| Journal: | Engineering Economist
1997 : WINTER, VOL. 42:2, p. 111-135 |
| Index terms: | ENGINEERING INDUSTRY ECONOMICS CAPITAL BUDGETING |
| Language: | eng |
| Abstract: | The widely used concept of a cash flow per project in capital budgeting has serious weaknesses when resources are shared by different projects. Accordingly, the concept of cash flow per project is not used herein. Instead, the project portfolio approach is used in which costs are considered only in the acquisition and utilization of resources; when these costs actually occur. The main conclusion from this approach is that better capital budgeting decisions can be made if the concept of cash flow per project is avoided when resources are shared. |
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