NDE 4.0 is a commonly established term for a plethora of technologies. As with every innovation it is crucial to understand why companies and managers should implement them for their operation. Therefore, one must understand the underlying economic drivers that lead to the necessity to change the status quo. The fact that NDE 4.0, like Industry 4.0, is a collective term for technologies ranging from artificial intelligence (AI) over robotics to additive manufacturing (AM) leads to an unclear picture of the relevance for individual stakeholders. Certainly, not all technologies provide value in the same way for every company and situation. Therefore, it is important to explore the technologies combined into NDE 4.0 individually. It is crucial that responsible managers carefully analyze the impact of each aspect on their operation and business. Is there a risk for an external disruption? Is it possible to increase efficiency? Is a fundamental process transformation required? As NDE managers are operating in a commercial setting, it is required to formulate the impact in economic terms. Of course, technical evaluation is also very important, and every responsible person must first check the technical viability and whether an innovation can be certified against industry standards. But finally, the innovation must be assessed in terms of economic viability. This means there must be an assessment of the costs, savings, and ultimately return of investment (ROI). Otherwise, it is impossible to quantitatively justify the investment to the company’s management or controllers. This publication will provide commonly used tools to valuate an innovation and will also address important aspects that have to be taken into consideration. This chapter will focus on the introduction of economic value drivers, performance metrics, risk assessment, and different types of innovation.