There are a several techniques used to analyze projects within a firm. Among the most popular, are NPV, IRR, and Payback. NPV has increased in popularity over the years. To determine the net present value of a project, you calculate: future value of the future cash flows minus the present value of the initial cost. future value of the future cash flows minus the initial cost. present value of the future cash flows. present value of the future cash flows minus the initial cost. sum of the project's anticipated cash inflows