Ideas for capital investments can come from many sources both inside and outside

Ideas for capital investments can come from many sources both inside and outside the firm, and from all levels in the firm. Most medium- and large-sized firms have departments to accomplish this, which include cost accounting, industrial engineering, marketing research and development, and corporate planning.
Imagine you were in a senior leadership position for a large company. Explain how you might construct a capital budgeting process for your firm, and what kinds of decision rules you might adopt to facilitate that process.