Sanctioning investment
Civil Engineering Procedure 7th Edition, published by the Institution of Civil Engineers (ICE) suggests that the term 'sanctioning' is:
| ...used in civil engineering to mean deciding to invest in a project, and not used to mean punishing. |
The individual who decides whether or not the proposed investment in the project should be made is sometimes referred to as the investment decision maker (IDM).
They should assess the project at key stages in its development, and should not allow the it to proceed unless they are satisfied that sufficient analysis has been carried out, with the appropriate advise, and that the analysis provides adequate justification for continued investment.
They typically consider the success of the project in relation to the overall business, and so the final decision to make the investment is made in the context of business drivers and benefits.
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