Estimating capital costs early can prevent unnecessary expenditures on dead-end projects
Gael D. Ulrich and Palligarnai T. Vasudevan,
University of New Hampshire
It’s important to define promising projects quickly so that money is not wasted on dead ends. Economic evaluation should begin at conception and continue in parallel with research and pilot studies before design and development expenses begin to balloon. Costs of prolonging a project and securing more detail increase exponentially with time. Clearly, if the project is a "loser," the sooner it is abandoned, the better....
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