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selection criteia in IRR method?

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(Querist)
19 May 2008 Hi Experts,
If we are considering a mutually exclsive projects based on IRR, what is the criteion? Is it the project with the higher IRR to be selected or the lower IRR? Thus the concept of IRR is the same as ROI? please clarify
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
20 May 2008 The project with a higher IRR.

The underlying concept is same. But difference is in sophistication.
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