The development of a new integrated method of DCF technique the Net Precast Index Rate (NPIR) for project life cycle costing based effective investment decision “An efficient application for the PI with the innovated new IPPPA tools. The new formulae of IPPPA are instrumental for the innovative design of integrated sensitivity, scenario, break-even, and certainty equivalent cash flow techniques of investment analysis as the unique technique that ensures to overcome their limitations mutually and combines their advantages with the use of the modified version of the Profitability index as net present index rate (NPIR). It is able to provide a more effective application of the profitability index which is free from the limitations of NPV and assumptions of IRR. The most advantage of this method is that it provides the scope of using the ideal/standard/targeted level of performance as the basis for the entire lifecycle of the project in the analysis on one hand and the effects of the changes in operating variables on ROS as the extent of effect and the returns on investment in terms of indexed rate of return at present value on the other. The Profitability Index (PI) provides parity in weightage for the risk and returns with no ambiguity or assumptions. The NPIR or NPIIR are similar in characteristics of PI except the adoption of one assumption that the “accounts finalization is deemed to be done at the end of n^th year, for NPIIR”. These are enabled to apply the prediction/forecasted extent of deviations/change is the uniqueness of NPIR or NPIIR. The NPIR and NPIIR curves represent respectively the marginal and average index rate at present value of economic analysis to identify the peak rate of returns and overall maximum rate of index returns at present value. It forms as the standard base for continuous evaluation and feed back in progression all through life of the project with provision for f impact analysis in financial perspectives point by point in the course of implementing the performance improvement strategies like BSC, back flush Costing, Target costing etc.