The five steps of capital budgeting are often described as exploring opportunities, estimating costs, determining the benefits, assessing any potential risk involved, and making the final decision. D

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the ******* or cash **** *** University ** likely ** ******** *** ********** *** estimate **** ****** ** reviewing data ** ******* projects **** **** ********** ****** Should **** *********** ***** ********* to source *** ********** ****** ****** ** ********* cost ******* ** ****** *** ********** ***** ***** financially ******** 2019)Fourthly *** ****** process should assess *** **** *** ********** might **** such ** *********** and ********* risks *** ********** ****** ********* certain ******* such ** *** amount ** ***** *** corporation ****** ** **** ** *** ********** ******* ******* *** *********** results **** the University has ********** *** ****** ** **** it ********* the calculated risk against *** ********* **** flow ** see ** an ************** ***** ***** ******* *** ********** *** * budget *** *** ************** ** *** ******* ** *** construction ** a *** ******* ********** is viable the *********** **** ** ************** plan **** ******** ***** *** ****** *** the construction of the ********** * ****** for determining ***** and * ******* *** ****** cash ******** ******* budget *** *** University *** ** initial ********** **** includes outlays *** equipment ********* *** ******* ******* The projection indicates ******* ** **** revenue *** *** ***** *** ***** ** *** ********* ** *** ********** * net **** **** of ****** before *** ***** ** ******** after ***** *** variable cash ******** *** **************** **** = ***** **** * ************ **** ************** **** ********************* Estate($200000)Equipment($70000)Working capital($30000)Total($300000)Operating **** *********************** ** ******************************************************************************************************** ******************************************************************************************** **** **************************************************************************** Cash 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******** of *** **** **** *********** since ******* budgeting ******** ********** *** values ** **** ***** ******* years **** *** ****** **** ** ********** **** *** *** *********** ******** **** the ****** Therefore *** *********** ** *** ******* ** dependent on the ******* *** *** ****** ** *** outcome ** the ******** ** ******* *** risk *** University should ******** the ******** **** such that * huge ******** **** **** ****** ** * ******* *** ******* ***** ******* ***** ******* 2017) *** corporation ****** **** ****** *********** analysis ** ****** the business risk *********** ******** ** essential ***** it shows how ********** ** *** ** *** ********** ** *** ***** variables ******* It ********* ***** *** ***** ** *********** returns **** ********** * ****** in each ** *** ***** ******************** the ********** *** ******* * ******** ******** **** ********* sensitivity analysis except ** **** ********** *** ** **** threats to and opportunities *** *** ********** and *** ***** opportunities and threats might ********* *** ********* returns ******* ******* ** *** ********** include ***** ** * *** ********** **** the ****** * sudden rise ** lecturer **** ** ************ wages ** the ***** hand inside ******* ** *** ********** ******* **** ****** *********** cost overruns ****** ******* *** ************ control *** ******** ******** ****** include “worst case” and “best ******* scenarios ********* ** ******* ** or ************* for the ********** ******* ***** Michels ************************* * * & ******* * (2017) ********** *********** and ******** *** ********** ******** forecastsReview ** ********** ************ **************** * ****** ******* ********* techniques in ***** * literature reviewJournal ** ********** *** Finance19(3) ******