What are some effective techniques for cost-benefit analysis?
Some effective techniques include Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period.
Can you explain how Net Present Value works?
Net Present Value calculates the difference between the present value of cash inflows and outflows over time.
What is the significance of the Internal Rate of Return?
The Internal Rate of Return is the discount rate that makes the NPV of all cash flows equal to zero, indicating profitability.
How do I choose the right technique for my project?
Consider factors like project size, cash flow patterns, and the time frame to determine the most suitable technique.
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