A framework for integrating capital budgeting analysis with strategy.

The exclusive use of discounted cash flow capital budgeting models is being criticized because of the inability of these models to handle qualitative/intangible benefits and tie the capital budgeting decision formally to organizational strategy. In response, the use of the Analytic Hierarchy Process (AHP) for capital investment analysis has recently been proposed. That line of research is extended by focusing on the fundamental problem of structuring the decision hierarchy appropriately so that the AHP can be implemented successfully in a capital budgeting context. Three approaches are presented for structuring AHP hierarchies, including the mission, objectives, and strategy (MOS) framework for strategic planning. An example based on 3 companies in the petrochemical industry is developed using the MOS approach.

Main Author: Liberatore, Matthew.
Other Authors: Monahan, Thomas., Stout, David.
Language: English
Published: 1992
Online Access: http://ezproxy.villanova.edu/login?url=https://digital.library.villanova.edu/Item/vudl:178062
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dc_source_str_mv The Engineering Economist 38 (1), Fall 1992, 31-44.
author Liberatore, Matthew.
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Monahan, Thomas.
Stout, David.
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Monahan, Thomas.
Stout, David.
author_s Liberatore, Matthew.
spellingShingle Liberatore, Matthew.
A framework for integrating capital budgeting analysis with strategy.
author-letter Liberatore, Matthew.
author_sort_str Liberatore, Matthew.
author2 Monahan, Thomas.
Stout, David.
author2Str Monahan, Thomas.
Stout, David.
dc_title_str A framework for integrating capital budgeting analysis with strategy.
title A framework for integrating capital budgeting analysis with strategy.
title_short A framework for integrating capital budgeting analysis with strategy.
title_full A framework for integrating capital budgeting analysis with strategy.
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title_full_unstemmed A framework for integrating capital budgeting analysis with strategy.
collection_title_sort_str framework for integrating capital budgeting analysis with strategy.
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description The exclusive use of discounted cash flow capital budgeting models is being criticized because of the inability of these models to handle qualitative/intangible benefits and tie the capital budgeting decision formally to organizational strategy. In response, the use of the Analytic Hierarchy Process (AHP) for capital investment analysis has recently been proposed. That line of research is extended by focusing on the fundamental problem of structuring the decision hierarchy appropriately so that the AHP can be implemented successfully in a capital budgeting context. Three approaches are presented for structuring AHP hierarchies, including the mission, objectives, and strategy (MOS) framework for strategic planning. An example based on 3 companies in the petrochemical industry is developed using the MOS approach.
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dc.title A framework for integrating capital budgeting analysis with strategy.
dc.creator Liberatore, Matthew.
Monahan, Thomas.
Stout, David.
dc.description The exclusive use of discounted cash flow capital budgeting models is being criticized because of the inability of these models to handle qualitative/intangible benefits and tie the capital budgeting decision formally to organizational strategy. In response, the use of the Analytic Hierarchy Process (AHP) for capital investment analysis has recently been proposed. That line of research is extended by focusing on the fundamental problem of structuring the decision hierarchy appropriately so that the AHP can be implemented successfully in a capital budgeting context. Three approaches are presented for structuring AHP hierarchies, including the mission, objectives, and strategy (MOS) framework for strategic planning. An example based on 3 companies in the petrochemical industry is developed using the MOS approach.
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