How is 'investment appraisal' defined within the context of the BBC framework?

In the context of the Better Business Cases (BBC) framework, 'investment appraisal' is defined as the evaluation of both the monetary and non-monetary value of a proposed investment. This process is crucial as it helps stakeholders understand the potential benefits and risks associated with a project or investment before making a decision.

By considering monetary values, such as costs, revenues, and return on investment, alongside non-monetary factors like social impact, sustainability, and alignment with organizational goals, investment appraisal provides a comprehensive view of the investment’s feasibility and desirability. This dual perspective ensures that decision-makers can weigh all factors that could influence the success or failure of the investment, leading to more informed choices that align with strategic objectives.

The other options, while relevant in various business contexts, do not capture the essence of investment appraisal as defined within the BBC framework. Assessing project timelines focuses solely on scheduling rather than value; reviewing corporate governance structures pertains to oversight and compliance rather than investment evaluation; and analyzing company human resources addresses a different area of business management unrelated to the specific assessment of investment value.