Real Options

Hello Sir, I knw its last minute but Iv got a little bit confused here I hv done my ravion though. In real call options ( expand or delay) when we arrive at the value of the options how do we then arrive at the overall project value do we subtract like C (Value of Call) - (NPV of the project) = overall value And in case of put options: P (value of Put) + (NPV of the project) = overall value of the project Am I right sir or do I need to go back to my ravion ? Thanks