There are a number of 'metrics' used for calculating 'risk' and 'return'...consider NPV (net present value) as a measure of 'return'...do you agree with this method as a means of determining the 'value' of a given project/investment...?

Also, 'risk' is often measured by standard deviation and beta...'what' value might either/both of those measures have in evaluating 'risk' to a given investment/project...

Lastly, with regard to either 'risk' or 'return', feel free to address 'other' measures as generally used by the investment community..