The life cycle of the investment projects consists of four main phases. The rst pre-investment phase is very important for decision-making process whether to accept or reject a public project for its realization. A well-designed feasibility study as well as cost-benet analysis (CBA) in this phase are important assumptions for future success of the project.

Compare different simulation methods used to calculate the nancial and economic eciency of the public investment projects. Which one is more accurate. Justify your answer and provide concrete examples.