1. A computer-implemented method for managing creation of new databases, comprising: receiving input related to at least one proposed database design; generating, by one or more data processors, a report summary of one or more costs and benefits associated with the proposed database design, wherein the reported costs account for the resources required by the design from system operations and reported benefits account for the advantages provided by the design through specific applications relative to the use of existing databases; calculating, by one or more data processors, a relative value index that measures the overall ranking of the proposed database design relative to a current population of enterprise implemented databases; developing, by one or more data processors, an approval recommendation report based on the calculated value index, determining, by one or more data processors, an opportunity for reuse of an existing database, when the proposed database design is associated with at least one of creating a new database and extending an existing database; comparing, by one or more data processors, a specification and an attribute associated with the proposed database design to that of the existing database to determine if there is a match; when the match is not found, calculating, by one or more data processors, a relevancy rating to grade a degree of similarity between the specification associated with the proposed database design and that of the existing database; comparing the relevancy rating to a variance suitability threshold; and determining that the existing database is suitable for reuse when the relevancy rating meets the variance suitability threshold; wherein the proposed database design is associated with at least one of creating a new database, extending or enhancing an existing database, copying the existing database, and archiving the existing database.