Capital Project Prioritization Scoring Worksheet
Plant capital requests always exceed the budget. A scoring worksheet makes the ranking explicit, so the discussion is about criteria and evidence instead of who argues loudest.
| Project | Type | Capital cost | Strategic fit (1-5) | Financial return (1-5) | Execution risk (1-5) | Urgency (1-5) | Weighted score | Score per $100k | |
|---|---|---|---|---|---|---|---|---|---|
3.2 | 3.7647 | ||||||||
3.35 | 1.3958 | ||||||||
3.45 | 1.9167 | ||||||||
3.25 | 3.4211 | ||||||||
2.9 | 4.8333 | ||||||||
3.45 | 0.6635 |
Weights are 30% strategic fit, 30% financial return, 25% urgency and 15% inverted risk. Sort by weighted score, then fund from the top until the budget is used, but fund safety and compliance items first regardless of score. Edit the scores to match your own criteria.
Capex request data review
Optional: we can show how to pull capital requests and actuals from your ERP into one view.
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How to use the worksheet
List every request with its capital cost and category. Score each project from 1 to 5 on strategic fit, financial return, execution risk and urgency. Risk is inverted in the formula, so a high-risk project scores lower. The weighted score and the score per $100k appear automatically. Rank by weighted score first, then use score per $100k to find cheap projects that deserve funding. Export to Excel and bring the ranked list to your capital committee.
- Score as a group, not alone
- Write one sentence of evidence per score
- Fund safety and legal items first
- Re-score after quotes arrive
Method and weighting
Weighted scoring is a standard multi-criteria technique. The default weights favor strategy and return equally, give urgency a strong voice, and keep risk as a modest penalty. You can change the weights by editing the formula in your Excel export. Do not treat the score as the decision. It is a way to sort the list and expose disagreement. A project with a low score but a regulatory deadline still goes ahead. Pair this with a proper NPV or payback check for the top candidates.
Common mistakes
Scores drift upward when requesters score their own projects, so have a neutral party facilitate. Another trap is ignoring ongoing operating cost and training, which are not in the capital line. Finally, avoid splitting a big project into small pieces to slip under an approval limit. Compare the total cost of ownership and the cost of delaying a project, not only the purchase price.
- Do not let sponsors score their own request
- Include installation and training in cost
- Check dependencies between projects
- Review after the year to learn from actuals
Frequently Asked Questions
Can I change the weights?
Yes. Export to Excel and edit the score formula, or change the weights in the sheet before you export. Agree the weights with your finance and operations leaders before scoring, so nobody adjusts them afterward to favor a pet project.
Why is risk inverted?
Higher execution risk should lower the attractiveness of a project, so the formula uses six minus the risk score. A risk of 5 contributes 1 point and a risk of 1 contributes 5 points.
Does a high score mean automatic approval?
No. The score ranks projects within the budget. Final approval still needs a business case, a payback or NPV check and the authority of your capex policy. Safety and compliance items may override the ranking.
How many criteria should I use?
Four to six keeps scoring quick and defensible. More criteria add effort and often add noise. If you add one, make sure it measures something different from the existing criteria.
If your capital requests, spend and project actuals sit in your ERP, Netray can help build a private, read-only view so committees review real numbers.
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