1. David Axson explains that traditional forecasting cycle times are extended due to the difficulty in getting timely information, the high level of detail required which takes significant time, and the fact that data is developed across disconnected spreadsheets making integration time-consuming. 2. The ZBB methodology involves defining decision units and objectives, identifying activities as decision packages, ranking alternative packages using cost-benefit analysis, forwarding packages to higher levels for review and re-ranking, and finalizing the budget for approval. 3. When prioritizing capital expenditures, projects are assigned priorities of absolute must, highly desired/business critical, wanted, and nice to have depending on factors like regulatory needs, return timelines, and strategic value