The features of a sound project appraisal technique are:
It should consider the time value of money by discounting the cash flows.
It should give a direct decision criteria on when to accept or reject a project.
It should rank independent projects in order of their economic viability
It should distinguish between acceptance and unacceptable projects which are mutually exclusive.
It should generally be applicable to any conceivable project available.
What are the features of a sound appraisal technique?
