A brief critical history of NPV
نویسنده
چکیده
The rationale for using NPV for project evaluation appears weaker than ever. Authoritative texts in attempting to extend NPV by the inclusion of options, strategy and games far from enriching the model present evermore loosely argued rationales that are becoming contradictory. A brief review helps to understand how this state of affairs has arisen and how future analysis might develop. As an addendum and in part an explanation of the current state of affairs it is interesting to note that this subject has a very limited outlet. As a critique of the attempt in textbooks to present an overall account of project valuation, this paper is seen by educational journals as dealing with content and therefore not educational and by content journals as not extending the boundaries and therefore not contributing. As a result, out of date and decidedly loose accounts of valuation are allowed to survive without comment. .
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