Effective evaluation and management of projects and investments is critically important to a firm and the benefits of the investment should be more than the cost of the investment. Please write a 2-3 page paper and address the following:

1. In your paper, compare and contrast two of the three primary tools of cost-benefit analysis: net present value (NPV), internal rate of return (IRR), and payback period (PB).
2. Discuss the relevance of cost-benefit analysis as a tool for capital budgeting decision making.
3. Answer the question, “Why is capital budget decision making an important process in operations management?”

Your paper should be 2-3 pages long, citing at least three sources, and should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course, as well as providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and the current APA Requirements.