{"product_id":"capex-excellence-9780470779675","title":"CAPEX Excellence","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eFocusing on the core value levers companies can apply in the decision and design phase of capital investments, this book is the first to cover this topic in a holistic, practical, and strategic manner, and is based on McKinsey's extensive industry analysis and research.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eAcknowledgements.  \u003cp\u003eAbout the Authors.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I WHY INVESTMENTS MATTER.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1\u003c\/b\u003e \u003cb\u003eIntroduction.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Investments: the forgotten value lever.\u003c\/p\u003e \u003cp\u003e1.1.1 The early bird catches the worm.\u003c\/p\u003e \u003cp\u003e1.2 A bird’s-eye view of the book content.\u003c\/p\u003e \u003cp\u003e1.2.1 Part I: Why investments matter.\u003c\/p\u003e \u003cp\u003e1.2.2 Part II: Getting investments right.\u003c\/p\u003e \u003cp\u003e1.2.3 Part III: Right allocation: Managing a company's investment portfolio.\u003c\/p\u003e \u003cp\u003e1.3 Why investments matter: the importance and structure of capital investments.\u003c\/p\u003e \u003cp\u003e1.3.1 The relevance of capital investments.\u003c\/p\u003e \u003cp\u003e1.3.2 The structure of capital investments.\u003c\/p\u003e \u003cp\u003e1.3.3 Time dependence of capital investments.\u003c\/p\u003e \u003cp\u003e1.3.4 The future of capital investments.\u003c\/p\u003e \u003cp\u003e1.4 Summary.\u003c\/p\u003e \u003cp\u003eAppendix 1.1: Wavelet analysis: Extracting frequency information from investment timelines.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART II GETTING INVESTMENTS RIGHT.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2\u003c\/b\u003e \u003cb\u003eRight Positioning: Managing an Asset’s Exposure to Economic Risk.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Preface.\u003c\/p\u003e \u003cp\u003e2.2 Asset exposure determines the achievable return on an investment.\u003c\/p\u003e \u003cp\u003e2.3 Five levels of protection determine the asset exposure.\u003c\/p\u003e \u003cp\u003e2.4 A simple scoring metric to measure asset exposure.\u003c\/p\u003e \u003cp\u003e2.5 Quantitative asset exposure analysis shows high correlation with ROIC at all levels.\u003c\/p\u003e \u003cp\u003e2.5.1 Using exposure level analysis for benchmarking.\u003c\/p\u003e \u003cp\u003e2.6 Strategies to reduce asset exposure.\u003c\/p\u003e \u003cp\u003e2.6.1 Strategy 1: Create public-private, win-win situations in natural monopoly environments.\u003c\/p\u003e \u003cp\u003e2.6.2 Strategy 2: Foster regulatory conditions that enable sufficient investment levels.\u003c\/p\u003e \u003cp\u003e2.6.3 Strategy 3: Create the right structural conditions and ensure fair access to scarce resources.\u003c\/p\u003e \u003cp\u003e2.6.4 Strategy 4: Establish protection for intellectual property.\u003c\/p\u003e \u003cp\u003e2.6.5 Strategy 5: Achieve a strong commercial position.\u003c\/p\u003e \u003cp\u003e2.6.6 Strategy 6: Minimize fixed capital costs or outsource asset ownership (go \"asset light\").\u003c\/p\u003e \u003cp\u003e2.7 Summary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Right Technology: How to Optimize Innovation Timing and Risks.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Capital investments in technology innovation.\u003c\/p\u003e \u003cp\u003e3.1.1 Technology analysis.\u003c\/p\u003e \u003cp\u003e3.1.2 Assess risks.\u003c\/p\u003e \u003cp\u003e3.1.3 Mitigating technology risks.\u003c\/p\u003e \u003cp\u003e3.2 Summary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Right Timing: How Cyclicality Affects Return on Investments and What Companies Can Do About It.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 How cyclicality destroys value.\u003c\/p\u003e \u003cp\u003e4.2 Industry drivers of cyclicality.\u003c\/p\u003e \u003cp\u003e4.2.1 Impact of investment lead times.\u003c\/p\u003e \u003cp\u003e4.2.2 Slow-to-no market growth.\u003c\/p\u003e \u003cp\u003e4.2.3 High price sensitivity.\u003c\/p\u003e \u003cp\u003e4.2.4 Investment timing with respect to the cycle.\u003c\/p\u003e \u003cp\u003e4.3 Developing an economic model of cyclicality.\u003c\/p\u003e \u003cp\u003e4.3.1 A fundamental law of economic cycles.\u003c\/p\u003e \u003cp\u003e4.3.2 Base parameters of simple economic oscillations.\u003c\/p\u003e \u003cp\u003e4.3.3 Reaction of cyclical systems to external \"excitation\".\u003c\/p\u003e \u003cp\u003e4.3.4 Economic cycles with more than one player present.\u003c\/p\u003e \u003cp\u003e4.4 Measures to cope with cyclicality.\u003c\/p\u003e \u003cp\u003e4.4.1 Reaction delay.\u003c\/p\u003e \u003cp\u003e4.4.2 Reaction strength.\u003c\/p\u003e \u003cp\u003e4.4.3 “Jokers” that can help beat the cycle.\u003c\/p\u003e \u003cp\u003e4.4.4 Where no joker is available.\u003c\/p\u003e \u003cp\u003e4.5 Summary.\u003c\/p\u003e \u003cp\u003eAppendix 4A: A differential equation for economic cyclicality.\u003c\/p\u003e \u003cp\u003eReference.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Right Size: Balancing Economies and Diseconomies of Scale.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction: The role of scale in determining profitability.\u003c\/p\u003e \u003cp\u003e5.2 Assessing economies of scale.\u003c\/p\u003e \u003cp\u003e5.2.1 Fixed cost leverage.\u003c\/p\u003e \u003cp\u003e5.2.2 Decreasing unit costs.\u003c\/p\u003e \u003cp\u003e5.2.3 Equipment utilization\/chunkiness of capacity.\u003c\/p\u003e \u003cp\u003e5.2.4 Critical size.\u003c\/p\u003e \u003cp\u003e5.3 Determining diseconomies of scale.\u003c\/p\u003e \u003cp\u003e5.3.1 Cost elements.\u003c\/p\u003e \u003cp\u003e5.4 Risk elements.\u003c\/p\u003e \u003cp\u003e5.4.1 Utilization risks.\u003c\/p\u003e \u003cp\u003e5.4.2 Market reaction risks.\u003c\/p\u003e \u003cp\u003e5.4.3 Technology risks.\u003c\/p\u003e \u003cp\u003e5.4.4 Timing risks.\u003c\/p\u003e \u003cp\u003e5.5 An approach for finding the \"sweet spot\".\u003c\/p\u003e \u003cp\u003e5.5.1 Scale effect model.\u003c\/p\u003e \u003cp\u003e5.6 Real-life examples.\u003c\/p\u003e \u003cp\u003e5.6.1 Automotive industry case example.\u003c\/p\u003e \u003cp\u003e5.6.2 Base chemicals case example.\u003c\/p\u003e \u003cp\u003e5.7 Summary.\u003c\/p\u003e \u003cp\u003eReference.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Right Location: Getting the Most from Government Incentives.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Government incentives: An overview.\u003c\/p\u003e \u003cp\u003e6.1.1 Creating public-private, win-win situations.\u003c\/p\u003e \u003cp\u003e6.2 Common types of incentive instruments.\u003c\/p\u003e \u003cp\u003e6.2.1 Subsidies.\u003c\/p\u003e \u003cp\u003e6.2.2 Financing support.\u003c\/p\u003e \u003cp\u003e6.2.3 Tax relief.\u003c\/p\u003e \u003cp\u003e6.2.4 Other types of government incentives.\u003c\/p\u003e \u003cp\u003e6.3 The financial impact of incentives: A modeling approach.\u003c\/p\u003e \u003cp\u003e6.3.1 General impact of subsidies.\u003c\/p\u003e \u003cp\u003e6.3.2 General impact of financing support.\u003c\/p\u003e \u003cp\u003e6.3.3 General impact of tax relief.\u003c\/p\u003e \u003cp\u003e6.3.4 Specific impact of incentives on different industries.\u003c\/p\u003e \u003cp\u003e6.4 Geographical differences in incentive structures.\u003c\/p\u003e \u003cp\u003e6.5 Managing government incentives.\u003c\/p\u003e \u003cp\u003e6.6 Summary.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Right Design: How to Make Investments Lean and Flexible.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Lean design as a competitive advantage.\u003c\/p\u003e \u003cp\u003e7.1.1 The lean way: Moving from capital investment projects to a lean design system.\u003c\/p\u003e \u003cp\u003e7.2 The three dimensions of a lean capital investment system.\u003c\/p\u003e \u003cp\u003e7.3 Dimension 1: The technical system.\u003c\/p\u003e \u003cp\u003e7.3.1 Start with project objectives, design princisples, and target setting.\u003c\/p\u003e \u003cp\u003e7.3.2 Value engineering and lean tools.\u003c\/p\u003e \u003cp\u003e7.3.3 Design optimization.\u003c\/p\u003e \u003cp\u003e7.3.4 From the basic design to start of production.\u003c\/p\u003e \u003cp\u003e7.3.5 Anchoring tools and practices to formal standards.\u003c\/p\u003e \u003cp\u003e7.4 Dimensions 2 \u0026amp; 3: Management infrastructure, mindset and behavior.\u003c\/p\u003e \u003cp\u003e7.4.1 Project organization and performance management.\u003c\/p\u003e \u003cp\u003e7.4.2 Institutionalization and learning.\u003c\/p\u003e \u003cp\u003e7.4.3 Adapting the system to local specifics: Project design cannot be \"one size fits all\".\u003c\/p\u003e \u003cp\u003e7.4.4 Getting started.\u003c\/p\u003e \u003cp\u003e7.5 Flexibility: Just what customers and the company need and no more.\u003c\/p\u003e \u003cp\u003e7.5.1 Macro-level flexibility: modularity in plant design to ensure flexible, cost-efficient assets.\u003c\/p\u003e \u003cp\u003e7.5.2 Midi-level flexibility in plant design: cater for product portfolio diversity.\u003c\/p\u003e \u003cp\u003e7.5.3 Micro-level flexibility in plant design: design for iso-productivity.\u003c\/p\u003e \u003cp\u003e7.6 How to avoid creating a front-page disaster: Anticipating what can go wrong.\u003c\/p\u003e \u003cp\u003e7.6.1 Performance management and decision making.\u003c\/p\u003e \u003cp\u003e7.6.2 Tools which every company and project team need to master.\u003c\/p\u003e \u003cp\u003e7.6.3 Cross-functional coordination.\u003c\/p\u003e \u003cp\u003e7.7 Summary.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Right Financing: Shaping the Optimal Finance Portfolio.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Why Financing Matters.\u003c\/p\u003e \u003cp\u003e8.2 Three-Step Financing Approach.\u003c\/p\u003e \u003cp\u003e8.2.1 Step 1: Evaluating the investment's cash flow parameters.\u003c\/p\u003e \u003cp\u003e8.2.2 Step 2: Assessing investment risks.\u003c\/p\u003e \u003cp\u003e8.2.3 Step 3: Composing the financing portfolio.\u003c\/p\u003e \u003cp\u003e8.3 Summary.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART III.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9\u003c\/b\u003e \u003cb\u003eRight Allocation: How to Allocate Money Within the Company.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Key requirements for capital allocation.\u003c\/p\u003e \u003cp\u003e9.2 Four models of the corporate center role in shaping the investment portfolio.\u003c\/p\u003e \u003cp\u003e9.3 Capital allocation approach for operators and strategic controllers.\u003c\/p\u003e \u003cp\u003e9.3.1 Step 1: Treat special projects as high priority.\u003c\/p\u003e \u003cp\u003e9.3.2 Step 2: Allocate remaining capital to business units.\u003c\/p\u003e \u003cp\u003e9.3.3 Step 3: Business units distribute capital to individual investments.\u003c\/p\u003e \u003cp\u003e9.3.4 Step 4: Implement a capital assurance process.\u003c\/p\u003e \u003cp\u003e9.3.5 Improving the \"capital allocation key\".\u003c\/p\u003e \u003cp\u003e9.3.6 Capital allocation backbone.\u003c\/p\u003e \u003cp\u003e9.4 Capital allocation approach for strategic architects and financial holding structures.\u003c\/p\u003e \u003cp\u003e9.5 Summary.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndex.\u003c\/b\u003e\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default 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