Projections play a significant role in the business climate for almost every industry. Whether you're forecasting sales for the next fiscal year, demand for specific items, or something else, projections are needed to account for needed raw materials, labor, inventory, and more. Cash flow projections for projects are also important, especially for small and medium-sized businesses that are in a growth phase. Liquidity is usually at a premium for these companies, so it is important for them to understand exactly how their investment in a project will affect their cash flows at any given time. Being able to meet your cash needs is a key part of running a successful business. One of the largest and most commonly made mistakes in estimating incremental cash flows is the exclusion of indirect costs. Managers have no problem estimating capital expenditures on a new project. These are generally well understood, researched and accounted for. While indirect costs are often overlooked, they can be significant. In Finance: Investments, Institutions and Management, by Stanley Eakins...