This research studies the financial aspects of capital budgeting models in both the local and global perspectives. Since the development of the simple payback method, capital budgeting models have been employed as relative local measures of project evaluation. Because these tools analyze at a...

This paper describes the steps taken by a major commercial bank in the USA to redesign a critical function within its check‐processing operation. Animated simulation models of the current and new process were developed to understand the relationship between process parameters, waiting times,...