You are evaluating the financial performance of two investment projects undertaken by a real estate development company, Project Alpha and Project Beta.

Requirements:

1. Project Alpha generated a total return of $10 million on an initial investment of $50 million over a five-year period. Project Beta yielded a total return of $12 million on an initial investment of $60 million during the same duration.
2. Calculate the return on investment (ROI) for both projects.
3. Analyze which project provides a higher return relative to the initial investment.