Which benefit measurement method considers the value of each time period's return for a project that will create deliverables over multiple time periods?

Net present value calculates the worth of each future period's return by discounting it back to today's value using a discount rate, then summing all those discounted values minus the initial investment. This makes it uniquely suited for projects delivering returns over multiple time periods, as it reflects that money received in the future is worth less than money received today. A positive NPV indicates the project adds value.

Future value calculates what a current sum of money will be worth at a future point, moving in the opposite direction - forward in time rather than discounting back.

Present value calculates the current worth of a single future cash flow, but does not aggregate or compare returns across multiple periods as NPV does.

Cost-benefit ratio compares total benefits to total costs as a ratio, but does not account for the time value of money or discount each period's return individually.