Topic 7a: Project Selection (MANDATORY TOPIC) Larson and Gray (2014) describe three classes of projects found in most organizations: (1) compliance or emergency projects; (2) operational projects; and (3) strategic projects. Compliance or emergency projects are those that must be done; operational projects support current operations; and strategic projects support the organizations long-term mission. Disregarding compliance or emergency projects, describe the process used in your organization to determine which projects will be undertaken. What financial selection criteria are considered? Do financial selection criteria generally take precedence over non-financial selection criteria? Topic 7b: Time Value of Money What is the time value of money and why is it important? Describe the net present value (NPV) and internal rate of return (IRR) methodologies and their use in capital budgeting decisions. What is NPV when the discount rate (hurdle rate) equals IRR? Topic 7c: Mutually Exclusive Investments Outline an example of using the NPV methodology to make choices among mutually exclusive investments, preferably in your current organization. You may, however, cite a case study or hypothetical example if necessary. 6 13 Unread for topic Session 7 Topics:(13) View profile card for Rachel Sheets Rachel Sheets 3 hours ago Week 7: General Comments and Questions Available on May 10, 2023 12:01 AM. Access restricted before availability starts. Post any comments or questions that are directly related to this week's requirements. (In general, this discussion topic can be used for clarification and help related to assignments, readings, discussion topics, etc.)