Abstract: The applicability of Net Present Value (NPV) in an
investment project is becoming more and more popular in the field
of engineering economics. The classical NPV methodology involves
only the precise and accurate data of the investment project. In the
present communication, we give a new mathematical model for NPV
which uses the concept of intuitionistic fuzzy set theory. The proposed
model is based on triangular intuitionistic fuzzy number, which may
be known as Intuitionistic Fuzzy Net Present Value (IFNPV). The
model has been applied to an example and the results are presented.