You are a risk manager for a construction company and you need to estimate the risk associated with a new project. The project requires an investment of $1,500,000 and is expected to generate a net cash flow of $300,000 per year for 8 years. However, there is some uncertainty around the cash flow projections due to market risk. The standard deviation of the project's net cash flow is estimated to be $100,000. The company's cost of capital is 10%. Calculate the expected net present value (NPV) of the project and assess the risk associated with the project.