When deciding if a project is worth investing in, it's important to look at it through a different lens.

In your opinion, should payback be the first screen test, and if this process shows a positive return, then move on to the next framework, such as NPV or IRR, before deciding if the project is a good idea, instead of limiting the assessment to "just" one framework?

Note:

Please use academic literature ONLY not personal knowledge

Please cite the literature used clearly next to the the sentence/ paragraph you are referring to

Please reference ALL literature clearly with links at the end so I may access and read this in further detail.