Capex Performance "Secrets"

Really good article on Capex in the Sept. 2010 CFO magazine.

David Katz summarizes the top 6 strategies to achieve improved capex performance:

1. They (the companies that are outpacing the field in capital investments) are in the right place at the right time
     - health care, energy, aerospace, and business-process outsourcing industries are outpacing the general economy

2. They used the recession to plan for growth
     - funding revenue growth projects now, for fewer dollars

3. They spend through business cycles
     - giving competitive advantages as cycles turn

4. They are ready to move - literally
     - light & portable equipment
     - modular techniques in plants and facilities (eg: http://www.hermanmiller.com/Products/Modular-Walls )

5. They believe that information technology matters
     - providing a "foundation for a truly global business"
     - including systems consolidation, rationalization, and expansion into a common framework

6. They are focused on returns
     - extreme focus on ROI, ROIC, ROA
     - Capex goes hand in hand with M&A

Link to article here.