Finance & AccountingIntermediate 2 to 3 hours

Compare Three Capital Projects

Rank 3 mutually exclusive projects and explain when NPV and IRR disagree.

The Scenario

A manufacturing company has R2M to invest and three mutually exclusive options: (A) automate a production line, (B) open a second warehouse, (C) acquire a competitor's client book. Each has different investment sizes, cash flow profiles, and risk levels.

The Brief

Evaluate all three projects using NPV, IRR, and payback period. Rank them. Then explain why the rankings might differ depending on which method you use.

Deliverables

  • A comparison table: Project, Investment, NPV, IRR, Payback, Ranking by each method
  • An explanation of why NPV and IRR can give different rankings (scale differences, timing differences)
  • Your recommended project with a justification that goes beyond the numbers (risk, strategic fit)

Submission Guidance

NPV and IRR often disagree when projects have different scales or cash flow timing. A small project can have a high IRR but low NPV. Show you understand this.

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