Determining capital projects for next year

After the capital project request is entered in Axiom Capital Planning, the plan files move through a review and approval process.

When plan files pass through the prior steps in the process, it remains in the Voting step, awaiting evaluation and scoring by the Capital Committee members.

Scoring can begin whenever the committee deems appropriate. We recommend that your organization specifies and communicates a deadline date to all managers and reviewers to make sure all potential projects for a budget year are included in the evaluation and prioritization process.

This process includes the following steps:

1. Sort and order projects to review - The Capital Planning administrator determines the projects for the Capital Committee members to review.
2. Score projects - The Capital Committee members score each project according to criteria set up by the organization and implemented by the Capital Planning administrator.
3. Modeling capital allocation portfolios - The Capital Planning administrator works with the Capital Committee members to determine the list of approved projects for the next year.
4. Approve or reject projects - The designated final approver (usually someone in the Finance department) approves or declines each project.

NOTE: The processes discussed in this section assumes that your Capital Planning administrator has configured the system for reviewing and approving capital projects. For more information, see Configuring the Review and Approval Process.