One of the most significant business decisions is that of project investment. It is the primary focus of
shareholders’ attention.
Companies which make things happen take ambitious project investment decisions with great care. An
effectively handled planning process and carefully surged stages of capital investment decisions are the
hallmarks of proactive firms, and the success rate of such companies is high. This chapter, therefore, first
deals with definition and characteristics of project investment, and goes briefly describing the corporate
planning processes involved. Various stages in project investment decisions have been described before
being detailed under the heading of corporate investment decisions.
A project investment decision is a multi-stage relay marathon race. Capital budgeting, which can also be
known as capital expenditure planning and control, forms part of it.
