Problem:
Capital budgeting is a three-part process: data gathering, data analysis, and decisions. The techniques, such as NPV and IRR, are an aspect of data analysis.
The mathematical analysis is not the real challenge since you can use always a financial calculator or financial software application. The hard part is gathering data that is accurate and complete. This involves cash flow estimates, which are usually more fiction than fact.
Question:
Since the analysis relies on the quality of data, what kind of strategies would you recommend to increase the quality of data used for the capital budgeting?
Please include references.