Answer
Capital Budgeting
The plan for future capital expenditures is called a capital Budgeting. Capital budgeting is the most important financial decision.
Capital budgeting is the process of evaluating and selecting long term investment that are consistent with the firm's goal of maximizing owner's wealth
According to Shall & Halley's. "The process of determining both how much to spend on capital assets and which assets to acquire is called capital budgeting"