=+7. Camelia ple has been run in an autocratic style by the chief executive and main share-

holder, Mr Linedraw, during its 40-year history. The company is now too large for Mr Linedraw to continue being involved in all decisions. As part of its reforms the firm intends to set up a structured programme of capital investment. You have been asked to compile a report which will guide management. This will detail the investment process and will not be confined to appraisal techniques.