Next, I would develop a capital plan identifying dollars to be spent on the business to increase its overall value. While all capital dollars may not entirely be discretionary - i.e., investing dollars for anticipated return from growth - it is necessary to determine how capital dollars will be allocated whether for discretionary purposes or general maintenance. Projects that require capital are critical for the company growth and must be managed to their desired return, avoiding shortfalls in ROI or issues involving capital creep.
Remember not to double-dip on the capital projects EBIDTA contribution for the upcoming year - your budgetary baselines should move in concert with these investments. All projects that straddle the budgetary year, should be rolled over into the new plan. Business planning is the road map that identifies where you are headed in advance.