An appraisal is the assessment of alternative courses of action with a view to establishing which action should be taken. Appraisals may be financial, economic, or technical in emphasis.
Cost-Benefit Analysis is a technique used in capital budgeting that evaluates the estimated costs against the expected benefits of a proposed investment.
A feasibility study is an analytical process used to determine the viability of a project, venture, or business activity. It assesses various aspects, including financial, technical, legal, and operational factors, to evaluate the potential for successful completion and a satisfactory return on investment.
Financial appraisal refers to the use of financial evaluation techniques to determine the preferred option among various alternatives, often employing discounted cash flow methods, ratio analysis, profitability index, or payback period.
An evaluation of an investment decision based on broader criteria than pure financial metrics, considering long-term strategic benefits and intangible factors, particularly relevant for advanced manufacturing technology decisions.
