Espinoza, David; Morris, Jeremy W.F. - In: Construction Management and Economics 31 (2013) 5, pp. 471-496
Despite its shortcomings, because of its simplicity, the net present value (NPV) technique (or its close relative, the internal rate of return) remains the valuation method most widely used by investors. In this method, all risks associated with a project are lumped into a single parameter (i.e....