Capital Budgeting Techniques: NPV, PI, IRR, and Payback Name Course Institution Tutor Date  Organizations use various capital budgeting techniques to assess the viability of investment projects. Each of the techniques has its strengths and limitations, but the Net Present Value (NPV), is the most widely used approach. The NPV determines the value of an investment focusing on discounting the ash flows while the IRR and PI measure the return of profitability, while the payback period represents the risk in investing in a project in a given time. When the techniques have different conclusions on the choice of an investment projec