Consider Robert Galvin's approach to evaluating the satellite project proposal. The text suggests that in not developing discounted cash flow...

Consider Robert Galvin’s approach to evaluating the satellite project proposal. The text suggests that in not developing discounted cash flow analysis, Galvin’s approach was flawed. In hindsight, Iridium was a failed project for Motorola, and even positive NPV projects can turn out to be failures after the fact. Can you provide a critique of the behaviorally based argument and suggest some reasons why in foresight it might have been entirely rational for Robert Galvin to have proceeded in the way that he did?