Analisis Kelayakan Investasi Sebagai Dasar Evaluasi Proyek pada Usaha Seroja Batu Alam

Authors

  • Ainun Saskia Universitas Negeri Medan, Indonesia
  • M Yudi Fajri Universitas Negeri Medan, Indonesia
  • William Barker Hutabarat Universitas Negeri Medan, Indonesia
  • Nasrullah Hidayat Universitas Negeri Medan, Indonesia

DOI:

https://doi.org/10.57235/jleb.v4i2.9340

Keywords:

arus kas; evaluasi proyek; kelayakan investasi; NPV; analisis sensitivitas

Abstract

Analisis kelayakan investasi diperlukan untuk menilai apakah dana yang ditanamkan dalam suatu usaha dapat menghasilkan arus kas yang memadai pada masa mendatang. Penelitian ini mengevaluasi kelayakan investasi Seroja Batu Alam melalui indikator Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), Payback Period (PP), dan analisis sensitivitas. Penelitian menggunakan pendekatan deskriptif dengan desain studi kasus berdasarkan wawancara dengan pemilik usaha, observasi kegiatan operasional, dan dokumentasi pendukung. Seroja Batu Alam merupakan usaha perdagangan batu alam, produk taman, dan perlengkapan akuarium yang berdiri pada 2011. Laporan mencatat modal awal sebesar Rp300.000.000 dan aktiva tetap sebesar Rp92.000.000. Periode proyeksi yang digunakan adalah lima tahun dengan tingkat diskonto asumsi 10% per tahun. Tabel sensitivitas menunjukkan NPV kondisi dasar sebesar Rp290.446.992, penjualan turun 10% sebesar Rp160.675.115, biaya operasional naik 10% sebesar Rp190.721.814, dan skenario kombinasi sebesar Rp60.929.937. Walaupun seluruh nilai NPV sensitivitas yang dilaporkan positif, terdapat ketidakkonsistenan dalam data penerimaan, biaya, arus kas, dan perhitungan indikator. Oleh karena itu, hasil merupakan penilaian awal dan belum menjadi keputusan investasi yang tervalidasi. Penelitian merekomendasikan perbaikan pembukuan serta penghitungan ulang seluruh indikator menggunakan data aktual yang konsisten.

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Published

2026-10-17

How to Cite

Ainun Saskia, M Yudi Fajri, William Barker Hutabarat, & Nasrullah Hidayat. (2026). Analisis Kelayakan Investasi Sebagai Dasar Evaluasi Proyek pada Usaha Seroja Batu Alam. Journal of Law, Education and Business, 4(2), 1520–1526. https://doi.org/10.57235/jleb.v4i2.9340

Issue

Vol. 4 No. 2 (2026): Oktober 2026

Section

Articles

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Copyright (c) 2026 Ainun Saskia, M Yudi Fajri, William Barker Hutabarat, Nasrullah Hidayat

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