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The process of evaluating proposed investment in specific fixed assets and the benefits to be obtained from their acquisition. The techniques used in the evaluation can be summarised as non-discounting methods (i.e., simple payback), return on capital employed and discounted cashflow methods (i.e., yield, net present value and discounted payback).

ITIL. Glossaries © Crown Copyright Office of Government Commerce. Reproduced with the permission of the Controller of HMSO and the Office of Government Commerce

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capital investment appraisal

ITIL

IT Infrastructure Library

UK government

best practice

IT infrastructure

IT management

IT executive

Office of Government Commerce

investment

capital

capital investment

fixed assets

ROCE

simple payback