Hi!
In the case of an industrial construction and purchase decision, what would be the best approach? Would NPV or IRR yield the best criteria for the decision between several companies?

I need to know the pros and cons of each and how they would work together. I know this is usually based on personal preference, but as of now, I do not have a preference and would like to hear all sides.

Thanks for your response.

I found a great primer on Capital Budgeting (http://www.rhsmith.umd.edu/faculty/gphillips/courses/Bmgt640/Cap_bud.pdf) to help with your study question.