You are a project manager at a construction company evaluating three potential projects to

undertake as of next year. Perform an analysis on these projects and make a recommendation on

which one to pursue. Your analysis should cover the following:

$1.$ Identify $5$ key stakeholders for each project and analyze their needs and expectations.

$2.$ Determine appropriate $7$ criteria to assess the success of each project. Ensure the criteria are specific, measurable, achievable, relevant and time$-$bound $($SMART$).$

$3.$ Calculate the following financial metrics for each project using provided estimates of costs and benefits:

a$.$ Return On Investment $($ROI$)$

b$.$ Net Present Value $($NPV$)$ Assume a discount rate of $10\%$ for all projects

c$.$ Payback Period $($PP$)$

d$.$ Benefit$-$Cost Ratio $($BCR$)$

$4.$ Compare the financial attractiveness of the three projects, and highlight the key risks and factors that should be considered in your analysis.

$5.$ Make a recommendation on which project your company should select. Justify your recommendation with evidence.

Project $1$: Building a New Office Complex

$$ Initial Investment: $$18$ million

$$ Annual Lease Revenue: $$4$ million

$$ Operating Costs: $$1\mathrm{.}2$ million per year

$$ Resale Value After $10$ Years: $$10$ million

$$ Project Duration: $5$ years

Project $2$: Renovating an Old Hotel into a Luxury Resort

$$ Initial Investment: $$10$ million

$$ Annual Revenue: $$3$ million

$$ Operating Costs: $$800,000$ per year

$$ Resale Value After $8$ Years: $$15$ million

$$ Project Duration: $3$ years

Project $3$: Building a Solar Power Plant

$$ Initial Investment: $$30$ million

$$ Annual Energy Sales Revenue: $$6$ million

$$ Operating and Maintenance Costs: $$1\mathrm{.}5$ million per year

$$ Government Subsidy $($annually for $5$ years$)$: $$1$ million

$$ Resale Value After $15$ Years: $$10$ million