Defend your project
Build the business case for a project inside an existing company. The 11-step workflow trims to 9 — same revenue, costs, layer profile and TRL, but capital comes from a corporate-WACC + project-risk uplift, funding round is dropped, and the output is a board memo with NPV, IRR, payback and a commoditization risk register, not a cap table.
Business case — Your project
Board memo · Defend mode · Segment: —
Capital ask
From the Capital step. The effective project WACC is the number the DCF engine discounts cash flows by.
- Corporate WACC
- 9.00%
- Project risk uplift
- 2.00 pp
- Effective project WACC
- 11.00%
Commoditization risk register
Driven by the Layer profile step. High Layer-4 exposure + high AI substitution potential = high risk that the value captured by the project erodes in 18-36 months.
- Layer-4 share
- 35%
- AI substitution potential
- 60%
- K₇ (cross-border)
- 0.70
The Defend reconciliation view (lands with shared-panel refactor) will surface the commoditization premium — i.e. how much project NPV is at risk if the L4-compression dynamic plays out 18 months ahead of plan. Treat this as the qualitative section of the board memo.
Notes on the figures
Project NPV here is the enterprise value the firm-valuation DCF returns under the effective project WACC you set on the Capital step. IRR is computed from the monthly FCFF series by bisection (annualised); Payback is the first month at which cumulative cash turns non-negative.
NPV / CapEx is left blank — the DCF response carries the FCFF series but no canonical "initial CapEx" handle. When the Defend Capital step exposes a project-capex input, this card will resolve.
For the full four-path reconciliation (Classical Damodaran, Layered A, Two-phase B, Dual-channel) on the same project, switch to Value your company and run the project as a stand-alone firm — the framework view there surfaces the commoditization premium quantitatively.