Time Value of Money and Net Present Value are not the same thing but the NPV builds off the idea of the Time Value of Money. The Time Value of Money is the idea that a dollar today is worth more than a dollar in the future. This is because if you receive a dollar today, you can invest that dollar and earn a return on it. The sooner you can receive it, the sooner you can invest it and earn interest on it.

The Net Present Value of a project is used in the capital budgeting process and firms use it to decide on whether to invest in a new project or not. Firms usually invest in  a new project if it has a positive NPV. NPV can be calculated as the difference between the present value of cash inflows and the present value of cash outflows (expenditures). 

Therefore the NPV compares the value of a dollar today to the value of a dollar in the future while accounting for returns and inflation.