ECONOMIC ANALISYS
Pengertian Dasar
Analisa Ekonomi dan Analisa Finansial
• Analisa ekonomi berupa analisa Cashflow Cost dan Benefit
yang didasarkan pada harga ekonomi ( opportunity price )
– Tujuan: Mengetahui dampak Proyek terhadap ekonomi makro
(manfaat terhadap kesejahteraan masyarakat)
• Analisa finansial berupa analisa Cashflow Cost dan Benefit
yang didasarkan harga finansial ( market price ).
– Tujuan : Mengetahui kemampuan pengembalian dana dari proyek
yang bersangkutan ( amortisasi Loan ). Bermanfaat bagi investor
untuk pertimbangan peminjaman dana.
• Komponen-komponen biaya yang dikeluarkan harus
diperhitungkan ( pajak, angsuran pinjaman dll.)
• Analisa finansial sangat penting bagi investor-investor
swasta.
Hirarki Penilaian Kelayakan Proyek
Investasi
• Private organisation
– Profit
• Public organisation / activities
– General welfare
– Value to beneficiaries
– Beneficiaries are unique individuals
– Value = f(personal values, beliefs, etc.)
ECONOMIC ANALYSIS METHOD
Benefits
Initial Capital Costs
Cost
Dollars
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year
• Modified B/C
B/C = (B – D – O&M costs)/ initial investment
SELECTION
Kriteria Seleksi
• BCR > 1 Usulan proyek diterima
• BCR < 1 Usulan proyek ditolak
• BCR = 1 Netral
BENEFIT COST RATIO ANALYSIS
• Example 1 :
– Devices A with cost $1000 have a useful life of five
years and no salvage value. Device A can be
expected to result in $300 saving annually.
– With interest at 7%, what you decision, purchase or
not?
BCR Calculation for Double Alternatives
• Example 2 :
– Devices B with price $1200 have a useful life of
five years and no salvage value. Device B will
provide cost savings of $400 the first year, but will
decline $50 annually. With interest at 7%, what are
you decision, purchase or not?
BCR Calculation for Double Alternatives
• Example 3 :
– A firm is trying to decide which of two devices to
install to reduce a particular situation. Devices A
cost $1000 and B cost $1200. Both devices have a
useful life of five years and no salvage value.
Device A can be expected to result in $300 saving
annually. Device B will provide cost savings of
$400 the first year, but will decline $50 annually.
With interest at 7% which device should the firm
purchase?
• Example 4:
– Two machines are being considered for purchase.
Assuming 10% interest, which machine should be
bough?
Machine X ($) Machine Y ($)
Initial Cost 200 700
Annual 95 120
Benefit
SV 50 150
Useful life 6 12
(years)
BCR Calculation for Multiple Alternatives
A B C D E F
• Step 3
D B A C E
B-D A-B C-A
ΔC 1000 2000 2000
ΔB 3360 2630 1400
ΔB/ 3.36 1.32 0.7
ΔC
• Step 4
E-A
ΔC 5000
ΔB 1670
ΔB/ΔC 0.33