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All Journal Jurnal Manajemen Teknologi Journal of Business and Management The Indonesian Journal of Business Administration JEJAK AFEBI Islamic Finance and Economic Review Jurnal Ilmiah Manajemen Kesatuan Jurnal EK dan BI International Journal of Management, Entrepreneurship, Social Science and Humanities (IJMESH) Journal Integration of Management Studies Journal of Management, Economic, and Financial International Research Journal of Business Studies
Sudarso Kaderi Wiryono
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Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Implementation of Risk Management and The Effect on Performance Improvement in PT Krakatau Steel Rahmat, Budi; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 2, No 15 (2013)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Changes in the business environment is increasingly rapidly with increasing competition levels cause the appearance of a variety of business risks that could affect the company's performance. Efforts to secure the achievement of the goals and targets of the business, these risks need to be managed in a systematic, continuous and integrated. Application of the concept of risk management should be integrated with the company's strategy and performance management for all strategic plans, tactical plans and operational plans contain inherent risks that need to be managed properly. Through the Ministerial Regulation No. SOE. PER-01/MBU/2011, Minister of state mandates that all state-owned building and implementing risk management programs in an integrated corporation which is an integral part of the practice of good corporate governance. The final project is a review of the application of the concept of risk management in PT Krakatau Steel (Persero) Tbk., Evaluating its impact on corporate performance, analyze the causes of the problems and propose improvements necessary for the application of the concept of risk management had a positive impact on the effectiveness of the achievement of corporate goals. Based on the review and evaluation, it is known that the application of risk management in PT Krakatau Steel (Persero) Tbk. has not been implemented uniformly by all organizational units. In most of the organizational unit, found the lack of continuity between the risk management cycle. Process repeated measurements of risk level has not been run periodically, so the effectiveness of the risk mitigation measures that do not scalable. Risk identification process is not yet aligned with efforts to secure the achievement of predetermined performance targets. Therefore, the application of risk management to be integrated with the company's performance management system. Keywords: PT Krakatau Steel, risk, risk level, risk mitigation, key performance indicators.
Project Risk Management of Indah Senada Apartment Haryogo, Ryan; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 3, No 1 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract-PT. ABC as housing developer is planning to build Indah Senada apartment, and they need bank loan in order to build the apartment project. Since they need borrow loan from the bank, managing the Indah Senada apartment project risk is important for PT. ABC themselves and the bank. By managing the risk of the Indah Senada apartment project it is expected that the risk loss can be minimizes and opportunities can be maximized.The context of the risk management in this final project is to manage the external and internal risk factors that can affect to the on time schedule of the Indah Senada apartment project process. And from external, internal and SWOT analysis there are 19 risk factors that might happen and can affect to the on time schedule of the apartment project. And then from risk assessment there are two extreme risk factors priority, 8 high risk factors priority, 6 medium risk factors priority and three low risk factor priorities. And the last from risk treatment there are 6 risk factors that must be doing risk prevention or risk avoidance, two risk factors that must be doing impact mitigation, 8 risk factors that must be doing risk sharing or insurance and three risk factors that can be risk retention.And for implementation planning, the first month of the project schedule is meeting to determine risk treatment planning for each risk factor and the last 23 month of the project schedule is implementation of risk treatment for each risk factor. Keywords: Risk Management, Project Management, Apartment Project
Maximizing the Value of Information Technology Investment based on Strategic Alignment, Risk Control and Real OptionsA Case Study of Enterprise System Implementation at PT. Pegadaian (Persero) Mulyana, Rahmat; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 1, No 10 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The world of IT market has experienced fast growth by9.7% worth US$ 527.9 billion (Rp 5.015,1 trillion) in 1995, but still IT value realization is questioned with the advent of IT Productivity Paradox phenomenon. In 2002, Gartner survey stated that 20 to 70% IT investment worth US$ 600 billion (Rp6,315.8  trillion)  was  wasted.  However,  the  phenomenon  was fading  with the  rise  of  IT governance  and  management  field, including IT investment management best-practice. Latest research from PwC and ITGI in 2011 has shown that the practice brought 27.1% increased value and 28.1% improved business competitiveness. Recently, PT. Pegadaian (Persero) has planned to invest on a new centralized real-time online Enterprise System. Considering this is a large scale IT investment which estimated TCO is around Rp 1.1 trillion (16% of Total Gross Revenue and 1100% of Total Investment in 2011), while the world historical data has shown many of its failures, in fact Pegadaian itself has experienced ES implementation failure in 2009-2011 which has wasted significant resources, therefore the management is very concerned   about   how   to   prevent   project   failures   while maximizing the value from it. The author has proposed the combination use of strategic alignment, risk control and real options valuation methods which enhanced the conventional investment  analysis  methods  such  as  IRR,  NPV,  ROI  and Payback Period to solve Pegadaian’s problem. This paper result showed that the combination of those methods has maximized the value of IT investment by making sure that the investment is aligned with business objectives, able to control its risks and offered managerial flexibility through viable investment option configurations which maximizing the value. Keywords: IT investment, strategic alignment, risk,  real options, enterprise systems, IT governance and management
The Optimal Financing Decision of Indonesia Digital Network (IDN) Arsiyanti, Ida; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 3, No 4 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Becoming a broadband wireless access operator is in line with the transformation of Telkom’s business to Telecommunication, Information, Media, and Edutainment (TIME). In order to deliver IME service, high speed bandwidth is required so there is no other choice but to prepare network with true broadband capability. Regarding that poin, Telkom plans to focus on the Indonesia Digital Network (IDN) until 2020 for development of internet broadband, pitching the initiative to Indonesian  as a way to bridge the digital divide suffered by the developing country and also significantly boost its GDP. IDN is a vision of true broadband infrastructure development of Telkom by end-to-end (user terminals, access, transport and service). IDN is a mega project that requires large amount of financing support. Missmanagement on financing strategy could affect Telkom’s long-run equity performance. The connections between capital structure and investment decisions should be most apparent when a company undertakes a large investment. By taking the right financings decision, IDN is expected to be able to be developed without cause any financial difficulty for Telkom. The objective of this final project is to formulate  financing strategy for IDN Project at the lowest cost of capital and the optimal mix of debt and equity that maximizes firm value itself. The financing decision for IDN Project despite to achieve the cheapest financing, should also encourage the overall company’s capital structure towards optimal, respectively. Keywords : cost of capital, company capital structure, firm value, financing source
The Effect of Good Corporate Governance and Financial Performance on The Corporate Social Responsibility Disclosure of Telecommunication Company in Indonesia Abriyani, Destya Ramia; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 1, No 5 (2012)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The company’s annual report is a medium of communication between companies and communities who need financial information and company developments. Currently, not only financial information are taken into consideration for investors, but also information on corporate social responsibility. This study aims to give an idea of corporate social responsibility disclosure in the Indonesian telecommunication sector and to know that the good corporate governance and financial performance with corporate social disclosure in accordance hypotheses simultaneously , while institutional ownership and the audit committee significantly affect the disclosure of corporate social responsibility partially. The next stage is using backward regression analysis method and found that the audit committee is the most influential variable on the disclosure of corporate social responsibility. Keywords: good corporate governance, corporate social responsibility disclosure, firm size, profitability, leverage
Financial and Business Risk: Private IPP, Case on Baturaja Coal Fired SPP 2x25 MW Marnalom, Marnalom; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 2, No 9 (2013)
Publisher : The Indonesian Journal of Business Administration

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Abstract

In line with demand of social economic and industry growth in Indonesia, energy development such as electricity infrastructure is a key factor to support. In other hand, shortage of electricity supply in almost whole areas in Indonesia which is increasing 7% a year on the average. In response to this issue, Government instructed PLN under the coal based steam power plant accelerated development program with the total capacity 10.000 MW that consist of PLN’s power plant development and also Independent Power Producer (IPP) developer. This program is actually purpose to decrease the cost of energy production (Fuel), primary energy diversification program, and to anticipate the delay of investment at private sector. It is necessary to balance the private sectors which build electric power plants and transmit its energy to PLN system through an electric sale agreement scheme called ‘PPA’ (power purchase agreement).  By giving opportunity to private investor in charge, PLN is not only expected to provide electricity supply immediately to social and industry, but also getting help for project financing. IPP is developer that builds, operates and maintains the generating units, and sells its electricity to PLN under PPA (power purchase agreement). And one of IPPs in Indonesia is PT.Astratel Nusantara, that proposed development of Baturaja Coal Fired Steam Power Plant 2x25 MW (net) where the plant will be located in regency of Baturaja, South Sumatra. This area is very poor for quality of electricity services from PLN; this includes the service for PLN’s big customer in industry like PT. Semen Baturaja, both for cement manufacturing process and for housing colony utilization. This final paper will try to evaluate the related aspects to find the answers whether IPP Baturaja 2x25 MW is executable or not by the firm’s decision makers, by performing a project financial analysis as capital budgeting techniques to help determine the relevant cash flows associated with proposed capital expenditures. Besides that, it is how the project sponsor can mitigate the potential risks by performing project management methodology (PMBOK).  Keywords: capital budgeting Techniques, project risk management, IPP (independent power producer)
Risk Management-Based Internal Audit for Auditor to Improve The Performance of Internal Audit Unit of PT Timah (Persero) Tbk Bura, Esther; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 2, No 16 (2013)
Publisher : The Indonesian Journal of Business Administration

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Abstract

PT. Timah (Persero) Tbk. is a holding company whose primary activity is related to tin mining operations and services marketing  products of their business group. During company's time course and development, PT.Timah (Persero) Tbk. Internal Audit Unit/SPI, as the internal audit executor, always face demands of dynamic personnel professionalism and working capacity in all conditions. Related to challenges in the process of task implementations and internal audit function, interrelation between risk management and internal audit was obtained. Therefore, it is unavoidable for internal audit activity to use risk management process. From a comparative study of  3 (three) domestic as well as foreign companies is PT Petrokimia Gresik, PT Sucofindo and Turk Tellekom (Turki), strong link was found between risk management and internal audit and their roles in improving internal audit of those companies.  Moreover, based on analysis results of PT.Timah (Persero) Tbk.'s role in carrying out its function and part, by using qualitatively-based research methodology, it was found that there were some weaknesses that could potentially reduce internal audit effectiveness and efficiency. Hence, a suitable approach of the application of risk management-based internal audit was proposed in form of a business solution for the internal audit unit of PT. Timah (Persero) Tbk. Benefits of the application was provided with reference to those 3 (three) domestic and foreign companies that have applied the approach. Keywords: Risk, Risk Management, Audit, Audit Internal
Strengthening Legal Aspects in Order to Mitigare Legal Risk of Mudharabah Muqayyadah on Balance Sheet Transaction in PT Bank XYZ Sulaeman, Eman Achmad; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 2, No 9 (2013)
Publisher : The Indonesian Journal of Business Administration

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Abstract

The growth of Sharia Bank in Indonesia has increased significantly during the year of 2011. The increase of the growth is contributed by the increase of funding and financing products of Sharia Banks. Risk management and funding and financing products of a bank are things that have a very close relationship in the Sharia banking. Bank Indonesia as central bank also has a special interest in establishing provisions to all banks in Indonesia to be able to manage their risks. Risks posed to Sharia Banks have several types inherited from products or services offerred to their customer. One of them is legal risk. Legal risks may derive from the weaknesses of legal aspects of products or services of Sharia Bank. Therefore, Mudharabah Muqayyadah On Balance Sheet (MMOB) as a product of PT Bank XYZ which has nature of funding as well as financing, poses legal risks originate from the weaknesses of its legal aspects. Legal risk in a transaction may be in the form of incomplete requirements for a valid agreement which may originates from several factors of legal risks. Factors of legal risk of a transaction cover incorrect legal structure, absence of consent of the parties, absence of competence of the parties, no certain objects, no permissible cause, imperfect clauses in the agreement, and incomplete legal documents.This final project is composed to identify the legal risks that may arise from MMOB transaction, its risk priority and the way to mitigate such legal risks. Legal risks of MMOB transaction derived from the weaknesess of legal aspects of MMOB Transaction. Legal risks of MMOB transaction occur in every steps of MMOB process. MMOB process steps consist of Process Step 1 Offering Product to Customer, Process Step 2 Product/Transaction Explanation, Process Step 3 Structure Selection, Process Step 4 Prepare Legal Document, and Process Step 5 Closing Transaction.The assessment of risk priority number (RPN) used Failure Modes and Effect Analysis (FMEA). The assessment result has revealed that the rank of RPN of MMOB Transaction which describe the consecutive rank of RPN is in the Process Step 3 of Structure Selection, Process Step 3 Prepare Legal Document, Process Step 4 Closing Transaction, Process Step 2 Product/Transaction Explanation, and Process Step 1 Offering Product to Customer.The legal risks of MMOB transaction have effects that the agreements can be deemed either void or voidable. Mitigation of legal risk of MMOB transaction is carried out through strengthening legal aspects of MMOB transaction by perfecting legal structure of MMOB transaction, revising legal document related to MMOB transaction, peparing procedures of marketing and offering MMOB transaction and preparing legal risk management policy. Keyword : risk management, legal risk, contract law, islamic bank, mudharabah muqayyadah 
The Impact of Banking Policies to the Macroprudential Policy Kharohmayani, Desy; Wiryono, Sudarso Kaderi
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 13, No 2 (2020): September 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i2.25754

Abstract

The interaction between banks and macroeconomics is of crucial importance to financial stability. This study aims to answer the question of how macroeconomic shocks are transmitted to banking variables or vice versa. The study investigated the impact of the banking policies, the principal component of analysis (PCA) of banking quality indicators (CAMEL), and BI's rate to the aggregate of GDP and GDP priority sectors. The methodology used is the Factor Augmented Vector Autoregressive (FAVAR) model to observe the endogeneity of the observed variables. The results show that there is substantial heterogeneity in the transmission of macroeconomic shocks, caused by CAR, CAMEL and BI rate. In the short run, we find that the impulse response functions of aggregate GDP and GDP per sector of priority to the shock of the CAR decrease and close to zero in the long term. Our findings align with the expected effects that the CAMEL has implications to the decline of GDP of priority sector. Finally, we find that the impulse response of aggregate GDP and GDP of the priority sector to monetary policy shock decreases in the short run and near to zero in the more extended period
Operational Risk Management Case and Proposed Action Plan to Support Business Continuity at PT. Freeport Indonesia Yurizal, Ruky; Wiryono, Sudarso Kaderi
The Indonesian Journal of Business Administration Vol 4, No 10 (2015)
Publisher : The Indonesian Journal of Business Administration

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Abstract

Abstract- Internal and external environmentalsituation changes and the company experienced  rapid growth followedby the increasing complexity of risk and its uncertainty in the operational activities undertaken by the company. This final project will focus on the issue of managing thepotentialriskof people at PT Freeport Indonesia, which could have an impact on mining activities and the delay resulted in the cessation of production activities as well as a reduction in the production of normal production capacity. Risks that have been and will be faced by PT Freeport  Indonesia can be affectingto Business Continuityin the futureand also could affect the potential problems and risks that might appear, therefore,to minimize any potential risks that may arise in the operational  activities,this  paper  will focus on how to implement the  Operational Risk Management  by emphasizing to people risk in regards to minimize and preventrisk to the operational activitiesof the company. The research comprisesof an analysis of the existing literature within the scope of Operational Risk Management and exploration of Risk Managementpractice that has beenapplied in the PT FreeportIndonesia today. The research approach is also through by benchmarking  against practices of Operational Risk Management at the company that has implemented  so in order to find and assess best practices that can be applied to the PT Freeport Indonesia. The research  data is predominantly  qualitative.  On the implementationof the Operational  Risk Managementplan will follow the rules of the sequence of steps Risk Managementby the accompaniment of Management commitment  and all organizational linesto make  risk managementand business continuity managementas a whole culture in the implementation  of the company's operation in preventing the impact of the risk without reducing the opportunity of corporate objectives to be achieved. Keywords: Risk, People Risk, Business Continuity, Operational Risk Management, Risk Management Abstract- Internal and external environmentalsituation changes and the companyexperienced  rapid growthfollowedby the increasing complexity of risk and its uncertainty in the operational activities undertaken by thecompany. This final project will focus on the issue of managing thepotentialriskof people at PT FreeportIndonesia, which could have an impacton mining activitiesand the delay resultedin the cessation of productionactivitiesas well as a reduction in the production of normal production capacity. Risks that have been and will befaced by PT Freeport  Indonesia can be affectingto Business Continuityin the futureand also could affect thepotentialproblems and risks that might appear,therefore,to minimizeany potentialrisks that may arise in theoperational  activities,this  paper  willfocus on how to implementthe  OperationalRiskManagement  byemphasizing to peoplerisk in regards to minimize and preventrisk to the operationalactivitiesof the company.The research comprisesof an analysis of the existing literaturewithin the scope of Operational Risk Managementand exploration of Risk Managementpractice that has beenapplied in the PT FreeportIndonesia today. Theresearchapproach is also through by benchmarking  against practices of OperationalRisk Management at thecompany that has implemented  so in order to find and assess best practices that can be applied to the PT FreeportIndonesia. The research  data is predominantly  qualitative.  On the implementationof the Operational  RiskManagementplan will follow the rules of the sequenceof steps Risk Managementby the accompaniment ofManagementcommitment  and all organizational linesto make  risk managementand business continuitymanagementas a whole culture in the implementation  of the company's operation in preventing the impact ofthe risk without reducing the opportunity of corporate objectives to be achieved.Keywords: Risk, People Risk, Business Continuity, Operational Risk Management, Risk Management 
Co-Authors , Aminah , Suharto Ady Taufik Yudisia Akbar, Fadjrin Asep Samsul Arifin Atta Alva Wanggai Besoni, Berlyan Budi Rahmat Dedi Yuswen Destya Ramia Abriyani Dini Lestari Dini Lestari Dini Lestari, Dini Eman Achmad Sulaeman Erik Sentosa Esther Bura Eva Mahdalena Fina Eliani Findy Idoliany Grisanto, Raden Gerald Setiawan Haga Sudipta Ida Arsiyanti, Ida Kharohmayani, Desy Marnalom Marnalom Muhammad Asfarudin Mutiara, Febrianisa Nieken Sukma Aripradipta Okky Paulin Panji Wicaksono Pipit Afiatun Purwoko Nugroho S Purwoko Purwoko Putri, Fawwaz Lu’ay Rahmat Mulyana Refi Rifaldi Windya Giri Risky Nugraha Ruky Yurizal, Ruky Ryan Haryogo, Ryan Samsinar Sinar Sanusi, Shafira Meutia Trisetiani Diahmarrisa Yohanes Edward Widjonarko Yos Sunitiyoso