TIPS:

What are the relevant cash flow (what to include, what’s not)?

5 steps capital budgeting (just taught)

What are the opportunity?

Estimate cost – to know what is the initial cost involve.

• Determine the benefits, what revenue (program offered, tuition fee)
• Net cost?
• What are the risks? Competitive? Competitive advantage
• Final decision (include NPV , IRR calculation) come out with cash flow and explain