The official business definition of Capital Expenditure Approval Process (CEAP) is a process used to approve the acquisition of capital assets. It is a process that involves the review and approval of capital expenditures by senior management, which includes the consideration of the financial, operational, and strategic implications of the proposed capital expenditure. The CEAP process is designed to ensure that capital expenditures are approved only when they are in the best interests of the organization and are in line with the organization’s overall objectives. The process typically involves the preparation of a detailed business case, the review of the business case by senior management, and the approval of the capital expenditure by the board of directors. The CEAP process is an important part of the financial management of an organization and is essential to ensure that capital expenditures are properly evaluated and approved.