Should Bose invest in developing the next generation of in-home smart speakers? Should Under Armour discontinue its children’s shoe line and expand its women’s golf clothing line? Working closely with accountants, top executives have to figure out how and when to best allocate the firm’s financial resources among alternative opportunities to create future value for the company. Because it’s hard to know what the future holds and how much projects will ultimately cost, this can be a challenging task, but it’s one that managers must constantly confront. To meet this challenge, companies such as Target and Chevron have developed special groups to make project-related capital budgeting decisions. This chapter explains the different methods organizations (and individuals) use to get the “biggest bang for the buck” in terms of the projects they invest in or undertake.