IRR and NPV are linked. For example, say project A has Cash Flows of -100 at time 0, 20 at time 1, ... , 20 at time 4 and 50 at time 5. What's the present value of these cash flows?
-100+\frac{20}{(1+i)}+\frac{20}{(1+i)^{2}}+\frac{20}{(1+i)^{3}}+\frac{20}{(1+i)^{4}}+\frac{50}{(1+i)^{5}}...