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Journal : Jurnal Manajemen dan Agribisnis

APLIKASI NPV AT RISK DALAM ANALISIS KELAYAKAN FINANSIAL BUDIDAYA JAMUR TIRAM PUTIH DI KABUPATEN BOGOR JAWA BARAT Tintin Sarianti; Hendro Sasongko; Anny Ratnawati
Jurnal Manajemen & Agribisnis Vol. 5 No. 2 (2008): Vol. 5 No. 2 Oktober 2008
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1029.473 KB) | DOI: 10.17358/jma.5.2.73-86

Abstract

The purpose of this study where to analyze white oyster mushroom farming activity in Sub-Province of Bogor, to analyze financial feasibility of  white oyster mushroom farming activity for high and low land in Sub-Province of Bogor by NPV at Risk Method and to analyze the switching value for the changes of cost and benefit in  white oyster mushroom farming activity.  The data were collected from 6 farmer living in high and low land in Sub-Province of Bogor. The NPV at risk model and switching value analysis were used to analyze tha data.  The result of the study showed that white oyster mushroom farming activity for high and low land in Sub-Province of Bogor were feasible by financial that considered by investors in selecting the location to act the white oyster mushroom farming.  The risks like price risk, production risk in that activity have accomodated in to cash flow.  Accomodation for price risk was used the inflation rate and for production risk was used estimation for failure of crop in white oyster mushroom farming activity according the farmers in location.  Switching value was used for to analyze maximum changes in cost and benefit which were developing the cash flow.  The maximum changes describes that the changes admit of tolerated.  The result for switching value analysis showed that the decreasing of production of white oyster mushroom (fresh and baglog) more sensitive than the others (decreasing of fresh white oyster mushroom price and increasing of varible input cost).  This matter showed that production risk having an effect on white oyster mushroom farming activity than price risk.  According that situation, the farmer must be repaire the technology of  white oyster mushroom farming activity. The application of this model gives many outputs (NPV) and risks variabilities so that it can give  a much more attractive and variying recommendation especially for the investors to do the investment decision especiaaly for white oyster mushroom farming activity
KELAYAKAN INDUSTRI KECIL BIOETANOL BERBAHAN BAKU MOLASES DI JAWA TENGAH Rita Nurmalina Suryana; Tintin Sarianti; Feryanto Feryanto
Jurnal Manajemen & Agribisnis Vol. 9 No. 2 (2012): Vol. 9 No. 2, Juli 2012
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1093.774 KB) | DOI: 10.17358/jma.9.2.127-136

Abstract

ABSTRACTThe objectives of this study were (1) to analyze the molasses based bioethanol production in Central Java Province and (2) to analyze the non-financial and financial feasibility of this bioethanol processing activity.  To analyze the financial feasibility this study used investment criteria namely net present value, internal rate of return, net benefit-cost ratio, and discounted pay back period while to analyze the changes of cost and benefit in bioethanol manufacturing activity this study used the switching value analysys.  The results of this study showed that bioethanol manufacturing activity in Sub-Province of Sukoharjo and Pati were financially feasible and can be considered by investors in selecting similar business. But on The other side, the supply of molasses as the raw material in that location is important, so they need to make partnership with the suppliers. The result for switching value analysis showed that the decreasing of production or price of bioethanol more sensitive than the others (increasing of variable input cost for molasses).  There was no negative effect from the production activity because the waste from the bioethanol manufacturing is not hazardous for the surrounding area.Keywords: bioethanol, molasses, feasibility analysis, small industryABSTRAKTujuan dari kajian ini adalah (1) menganalisis kegiatan proses produksi bioetanol berbahan dasar molases di Provinsi Jawa Tengah dan (2) menganalisis kelayakan pada aspek non finansial dan aspek finansial dari kegiatan proses produksi bioetano berbahan dasar molases. Dalam menganalisis kelayakan finansial digunakan kriteria investasi yaitu net present value, internal rate of return, net benefit-cost ratio, dan discounted pay back period, serta untuk mengetahui sejauh mana perubahan maksimum dalam tiap komponen biaya dan manfaat dalam kegiatan pengolahan bioetanol berbahan dasar molases digunakan analisis switching value. Hasil studi menunjukkan kegiatan pengolahan bioetanol berbahan dasar molases yang dilakukan di Kabupaten Sukoharjo dan Kabupaten Pati secara finansial dinyatakan layak dilaksanakan serta dapat dijadikan sebagai bahan pertimbangan bagi para investor untuk menjalankan usaha yang sama.  Namun, disisi lain pasokan bahan baku molasses di wilayah kajian sangat penting untuk menjaga keberlangsungan usaha bioetanol sehingga perlu dilakukan kerja sama dengan para pemasok molases.  Hasil  switching value yang digunakan untuk menghitung perubahan maksimum dari komponen pada biaya dan manfaat yang dibangun dalam cash flow, dapat diperoleh gambaran bahwa penurunan produksi dan harga output (bioetanol) lebih sensitif dibandingkan dengan peningkatan harga bahan baku molasses. Tidak terdapat dampak negatif dari limbah yang dihasilkan pada pengolahan bioetanol berbahan dasar molasses yang mengakibatkan pencemaran terhadap lingkungan sekitar kegiatan usaha sehingga kegiatan dinyatakan layak jika dilihat dari aspek lingkungan.Kata kunci: bioetanol, molasses, analisis kelayakan, industri kecil