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Explain the advantages and disadvantages associated with each of the following project selection methods: mandates, sacred cow decisions, NPV, IRR, payback period, and ROI. Explain

Explain the advantages and disadvantages associated with each of the following project selection methods: mandates, sacred cow decisions, NPV, IRR, payback period, and ROI.

Explain the importance of an organizations strategic plan to the selection process. Why is it important for an organization to conduct a project selection process?

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