Estimating capital requirements : The company must estimate its capital requirements (needs) very carefully. This must be done at the promotion stage. The company must estimate its fixed capital needs and working capital need. If not, the company will become over-capitalized or under-capitalized. The application process for College and Career Academies is very similar to other CPS high school programs such as Magnet and International Baccalaureate (IB) programs. The academy application process is part of CPS’s Options for Knowledge program managed by the Office of Access and Enrollment (OAE).