Written when an in-house retrospective conversion project on the monographs collection of an academic library was 80% complete, this paper presents factors for consideration by decision-makers prior to establishing a similar project. Topics considered together with a description of how North Carolina State University (NCSU) handled each, include: (1) why a library should undertake retrospective conversion; (2) how to set up the project; (3) what is the scope of the project; (4) what resources (e.g., equipment, personnel, funds) are needed to perform in-house conversion; (5) procedural decisions that must be made; and (6) an assessment of the project. It is noted that the variety of conversion methods and the number of vendors offering services to libraries today offer much greater flexibility in approaching conversion activities. (Author/THC)