【多选题】Which of the following statements regarding real options are correct?
A.
Real options should only be exercised when they increase the NPV of a project.
B.
Real options enhance the forecast of a project's expected future cash flows by incorporating, at the start of the project, the effect of decisions that will be made at a later date.
C.
Real options give owners the right, but not the obligation, to exercise these opportunities at a later date.
D.
Real options build greater flexibility into a project and thus increase its net present value (NPV).