Model of Community Forest Land Management Production and Financial Simulation of Super Teak, Solomon Teak and Sungkai Trees in Samboja Kutai Kartanegara East Kalimantan, Indonesia

Whether a project is viable, determining whether a project is viable requires some metrics. The indicators that are most frequently utilized are the Net Present Value (NPV) and the internal rate of return (IRR). They are very representative and scientific. The same decision can be made by applying both in independent and non-independent projects When there are many contradictions between NPV and IRR, it is necessary to introduce new indicators to continue to judge the project, such as △IRR, incremental IRR method, modified IRR (MIRR) method, selective IRR method, payback period method, Equivalent Annual Annuity (EAA) method and static analysis method. The investment is selected by comparing the internal rate of return △IRR with the benchmark rate of return (ic) or the social discount rate. The MIRR approach determines the IRR of each scheme, compares it to ic, chooses the scheme that have IRR is larger than or the same as ic, and then determines the incremental IRR of the two neighboring schemes to make the choice. In addition to the investment payback period approach and the selective internal rate of return method. EAA method is in the comparison of investment projects, investors should choose the project with higher EAA when comparing. In the process of investment projects, different enterprises can adopt static analysis method to carry out project investment, but there are two forms of static analysis method, such as payback period method and basic income method. Using reasonable indicators and methods to evaluate the investment project, so as to select the best project.

Abstract. Setiawan B, Lahjie AM, Yusuf S, Ruslim Y. 2019. Assessing the feasibility of forest plantation of native species: A case study of Agathis dammara and Eusideroxylon zwageri in Balikpapan, East Kalimantan, Indonesia. Biodiversitas 20: 2453-2461. Plantation forest using native species is very important effort to support biodiversity conservation. Still, analysis on its feasibility is needed to guarantee the sustainable forest management. The research aims were to assess the feasibility of plantation forestry of Agathis dammara and Eusideroxylon zwageri based on production models and financial simulation of stands management. The production models were developed based on plantation forests in Balikpapan, East Kalimantan, Indonesia. Using these plantation we developed models to estimate tree volume, total volume per hectare, Mean Annual Volume Increment (MAI) and Current Annual Increment (CAI) for each species. Financial analyses were carried out to assess the Pay Back Period (PBP), Net Present Value (NPV), Net Benefit/Cost (B/C) Ratio, Internal Rate of Return (IRR) and Equivalent Annual Annuity (EAA). The results of production model showed that A. dammara stands would reach optimum production at the age of 25 years while that of E. zwageri at the age of 150 years. A. dammara stands produce higher MAI of 15.67 m3ha-1 year-1 and total volume of 383.72 m3ha-1 than E. zwageri with MAI 1.89 m3ha-1 year-1 and total volume of 282.78 m3ha-1. The result of financial analysis showed that A. dammara plantation had the IRR higher than the Minimum Acceptable Rate (MAR) and the Net B/C Ratio of higher than 1, while E. zwageri had the Net B/C Ratio of lower than 1. A. dammara plantation also had a positive NPV value of IDR 78,699,974 while E. zwageri plantation had a negative NPV value of IDR 91,439,292. These results suggest that developing A. dammara plantation is more desirable than E. zwageri plantation.

This study aims to analyze the economic feasibility of renting transplanters at Brigade Alat Mesin Pertanian Tegineneng. The research was conducted from February to July 2023 at Brigade Alat Mesin Pertanian Tegineneng District, Pesawaran Regency. Feasibility- parameters used include Break-Even Point (BEP), Net Present Value (NPV), Benefit-Cost Ratio (B/C Ratio), Internal Rate of Return (IRR), and Payback Period (PP). Sensitivity analysis was performed to determine the impact of changes in working days on feasibility values.The study results indicate that renting transplanters at Brigade Alat Mesin Pertanian in Tegineneng has a BEP value of 27.96 hectares per year. Based on an NPV of IDR 9,175,366 per year, a B/C Ratio of 1.02, an IRR of 20.79%, and a Payback Period of 4.84 years, the rental of transplanters at Brigade Alat Mesin Pertanian in Tegineneng is economically feasible. Sensitivity analysis of transplanter use shows significant changes with each change in working days. For 40 working days, the BEP is 27.96 hectares per year, NPV is IDR 49,559,304 per year, B/C Ratio is 1.13, IRR is 29.99%, and Payback Period is 3.98 years. For 50 working days, the BEP remains at 27.96 hectares per year, NPV is IDR 89,943,241 per year, B/C Ratio is 1.20, IRR is 34.31%, and Payback Period is 3.59 years. For 60 working days, the BEP is still 27.96 hectares per year, NPV is IDR 130,327,179 per year, B/C Ratio is 1.26, IRR is 36.81%, and Payback Period is 3.37 years. Keywords: BEP, B/C Ratio, IRR, NPV, Payback Period, Rice Transplanter.

In this work, the technical and economical evaluation of the application of different Photovoltaic (PV) on grid systems was studied based on experimental results and theoretical models. Six types of 20 kWp PV grid-connected systems working at Applied Science Private University, Jordan were involved in study. The Six types of different PV systems studied were: Poly-Crystalline South directed (Poly S), Mono-Crystalline South directed (Mono S), Mono-Crystalline East West directed (Mono EW), Poly-Crystalline East West directed (Poly EW), Thin-Film directed to the south, and a Concentrated PV type with automatic two axes tracking (Con Tracker). For the 20-kWp grid connected systems, the yearly production, the yearly savings, the initial investment costs and the Operating & Maintenance (O&M) costs were estimated, evaluated and compared to get the most beneficial investments by using different economical methods. Con Tracker system presented the most feasible system with higher Net Present Value (NPV) (71733.06 JD), Internal Rate of Return (IRR) (45%), and short Payback Period (PBP) (3 years) than those values of Thin-Film with NPV (42638.15 JD), IRR (37%) and PBP (3 years), Poly S with NPV (44887.23 JD), IRR (34%) and PBP (3 years), Mono S with NPV (48267.89 JD), IRR (33%) and PBP (3 years), Mono EW with NPV (40998.52 JD), IRR (29%) and PBP (4 years), finally Poly EW with NPV (35793.14), IRR (28%) and PBP (4 years).

Based on increase of added and population growth that occurred in the city of Balikpapan, therefor the needed and demand for residential will increase. This situation is a business opportunity for developers to build housing complex. Before the construction of the necessary studies on the feasibility of investment projects in terms of economic (financial). Investment method used in the study is the Net Present Value (NPV), Internal Rate of Return (IRR) and Payback Period (PP). The purpose of research is to analyze the feasibility of the Borneo Nirwana Residence housing, that located in the kelurahan of Karang Joang at street of PDAM. Construction planning was conducted for 10 years with a payback period of 3 years accompanied determination MARR of 9%. The data required to analyze the form of the budget plan will be the cost of land, cost of infrastructure, cost of facilities, cost of office operations, as well as the construction costs of residential buildings. From the analysis, with an invesment cost of Rp.12.863.388.400,00 get the NPV for Rp.2.504.756.281,00 or NPV > 0, and the value of IRR at 9,7 % or IRR > MARR, it can be declared investment is feasible. But in terms of paybak period or PP is not feasible because a value of payback period is above of the desire of developers, that is for 8 years or longer than 5 years of time desired.

Several surveys have been administered over the last 40 plus years to learn about capital budgeting practices of healthcare organizations. In this report, we analyze and synthesize these surveys in a four-stage framework of the capital budgeting process: identification, development, selections, and post-audit. We examine three issues in particular: (1) efficiency of for-profit hospitals relative to not-for-profit hospitals, (2) capital budgeting practices of the healthcare industry vis-à-vis other industries, and (3) effects of healthcare mergers and acquisitions on capital budgeting decisions. We found indirect evidence that for-profit hospitals exhibited greater efficiency than not-for-profit hospitals in recent years. The acquisition of not-for-profits by for-profits is credited as the primary reason for growth of multihospital systems; these acquisitions may have contributed to the more efficient capital budgeting practices. One unique attribute of healthcare is the dominant role of physicians in almost all aspects of the capital budgeting process. In agreement with some researchers, we conclude that the disproportionate influence of physicians is likely to impede efficient decision making in capital budgeting, especially for nonprofit organizations.

Highlights We proposed to use GREENBOX technology for urban crop production in warehouse settings. We assessed the profitability of the application of GREENBOX technology using Benefit Cost Analysis (BCA) to evaluate the Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). We conducted sensitivity analyses on NPV, IRR, and PP over different scenarios. GREENBOX was found financially feasible for all the hypothetical scenarios in major cities in the USA. Abstract. Food security pressure, especially in urban areas, continues to rise due to surging demand for food resulting from a growing population and declining resources. It has been critical to improve crop production and make food readily available to consumers without traveling long distances in an economically sustainable manner. The novel GREENBOX technology uses Controlled Environment Agriculture (CEA) principles for leafy green crop production in urban structures. A GREENBOX is an individual thermally insulated chamber with an artificial lighting source and a soilless cultivation system (hydroponics) in an environment that is controlled at the grower's discretion. This study performed a financial feasibility study of GREENBOX technology for urban crop production in various scenarios to evaluate the system's profitability from an individual business's perspective and used market prices of the goods and services paid for or received by a project. The representative GREENBOX unit in the base case scenario had dimensions of a standard shipping pallet (1.0 x 1.2 x 0.9 m, or 40 x 48 x 36 in) and included thermally insulated walls, an LED artificial lighting source, a camera for monitoring growth, a Nutrient Film Technique (NFT) hydroponic growth platform, and an environmental monitoring and control system. A warehouse can host numerous GREENBOX units for mass production. We carried out a benefit-cost analysis by assessing the Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). These parameters were evaluated for a base case scenario from data collected or estimated for a representative GREENBOX unit. We also applied the base case scenario to investigate the financial performance of the GREENBOX setup in selected urban areas in the United States; New York City (New York), Miami (Florida), Los Angeles (California), Dallas (Texas), Atlanta (Georgia), Chicago (Illinois), Boston (Massachusetts), and Philadelphia (Pennsylvania). We then carried out a sensitivity analysis on NPV, IRR, and PP by keeping all the parameters in the base case scenario invariant except for one at a time. We obtained a summary equation to understand the variation of the financial parameters with changing lettuce sale price, electricity cost, rental cost, labor cost, and the number of GREENBOX units. A GREENBOX unit would require an initial investment of $398 to assemble and an annual outflow of $157 to cover operating expenses. GREENBOX cultivation was financially viable in the base case scenario and in all the cities studied, with varying degrees of financial performance. The sensitivity analysis revealed that GREENBOX cultivation was financially viable in all scenarios except when skilled labor costs were beyond $19/hr, and there were fewer than 300 GREENBOX units. A statistically significant regression equation was derived in which rising rental costs, labor costs, and electricity prices negatively impacted the NPV, while the rising lettuce sales price and the number of GREENBOX units positively impacted the NPV. GREENBOX farming may serve as a local source of fresh crops for urban customers, with various benefits including improved food security, greater freshness and nutrition of food, the potential to contribute to the local economy by the creation of jobs and revenues from sales, and educational opportunities through extension programs on food nutrition and production. Keywords: Agricultural business, Environmental control, GREENBOX, Lettuce, Urban agriculture.

Two of the most important criteria are the net present value (NPV) and the internal rate of return (IRR) for choosing among investment projects. In many circumstances, investment projects are ranked in the same order by both criteria. In some situations, however, the two criteria provide different rankings. The debate is an old one (e.g. going back to Böhm-Bawerk, 1884). Let us explain the essence of the NPV and IRR indicators. The basis of economic calculations in the field of investment is the idea that a cash euro today is more valuable than a euro promised in a year. If a bank lends N euros to an entrepreneur today, then in a year the bank demands to return N(1 + E) euros, where E is the bank interest. Another type of calculation is carried out by the entrepreneur. If he invests N euros in some project today, then in a year he hopes to receive N(1 + IRR) euros, where IRR is the internal rate of return of the project implemented by the entrepreneur. Naturally, the value of IRR is only an assumed, indicative, and the entrepreneur is expecting IRR more than E. The present work arose from discussions of the results of the French economist Pierre Masse “Le Choix des investissements, critères et méthodes” published in 1959. The main goal of the paper is to give the proof of both IRR and NPV formulas (in a particular simplified case) and a geometric interpretation of these very complex equations (useful for the training purpose, at least). The analysis of IRR and NPV indicates an unequivocal choice among the criteria NPV and IRR. This confirms a simple numerical example on the fallacy of Masse’s IRR reasoning. No unambiguous solution has been found yet. It can be explained if we allow that the bank interest relates to Macroeconomics, largely concerned with nation scale projects but the entrepreneur interest relates to Microeconomics, to internal rate of return. The world continues to search for a single consistent criterion for evaluating investments.

Financial Feasibility Analysis and Sensitivity Analysis of People's Oil Palm Plantation in Rambah Village, Rambah Hilir District, Rokan Hulu Regency. Prime University of Indonesia. This study aims to determine the Financial Feasibility Analysis and Sensitivity Analysis of People's Oil Palm Plantations in Rambah Village, Rambah Hilir District, Rokan Hulu Regency. The population in this study were oil palm farmers in Rambah Village, Rambah Hilir District, Rokan Hulu Regency, amounting to 100 families. The sample in this study was 31 families. The sampling technique of respondents was carried out using a simple random sampling technique which implies that each element of the population has the same opportunity to be a sample. This study uses quantitative methods. The data collection method used is by means of questionnaires, interviews and documentation. Net Present Value (NPV), Net Benefit Ratio (B/C), Internal Rate of Return (IRR), Payback Period (PP). The results showed that the Net Present Value (NPV) was positive, the Net Benefit Ratio (B/C was obtained at 1.90 Net B/C>1) then the oil palm plantation business using certified oil palm seeds was feasible to develop, Internal Rate of Return (IRR) of 35,91%, it is feasible to be developed, and the Payback Period (PP) is 3 years 8 months. Sensitivity analysis to a 10% price reduction is obtained by a Net Benefit Ratio (B/C of 1.49, Net B/C>1, Internal Rate of Return (IRR) of 26.26% and Payback Period (PP) of 4 years and 3 months. Sensitivity analysis to a 10% cost increase obtained a Net Benefit Ratio (B/C of 1.65, Net B/C>1, Internal Rate of Return (IRR) of 31.43% and Payback Period (PP) of 3 years and 10 months.

The purpose of the study is to evaluate the feasibility of students boarding house around University of Muhammadiyah Malang. The analytical tool are Net Present Value, Payback Period, Average Rate of Return, Internal Rate of Return, Profitability Index.The results of the analysis of boarding house owned by Mr. Rofiq show that the Net Present Value is 226.968.193,1 rupiahwhich is more than null ( eligible ) . Value Payback Period is six years one month and seven days which is less than 20 years (feasible ) . Internal Rate of Return is 17,2063 % which is higher than COC , it is declared eligible. T he value of Average Rate of Return is 43 % which is more than 15 % ( feasible). T he value of Profitability Index is 1,44 which is more than one ( feasible ) .The results of the analysis of boarding house owned by Mrs. Atnah show that Net Present Value is 22.370.869,3 rupiah which is more than null, it is declared eligible. Value Payback Period is twelve years two months and twentythree days is less than 20 years ( feasible ) . Internal Rate of Return is 17,8111 % which is higher than COC , it is declared eligible . The value of Average Rate of Return is 38 % which is more than 17 % ( feasible) . T he value of Profitability Index is 1.058 which is more than one ( feasible ) . In other words, the investments wasconducted by both the owner of boarding house was proceed.The results of the analysis of boarding house owned by Mr . Sofi show that Net Present Value is minus 170.035.625,2 rupiah which is not more than null (unfit) . Value Payback Period is 32 years 2 months 12 days is more than 20 years ( not feasible ) . The results of the value of the Internal Rate of Return is 3,7435 % is less than COC which is declared unfit. T he value of Average Rate of Return is 2% which is not expected (less than 15%) declared unfit. The value Profitability Index is 0.32 which is less than one, it is declared unfit. Keywords: Net Present Value , Internal Rate of Return, Payback Period , Average Rate of Return , Profitability Index .

The Mandalika Special Economic Zone (SEZ) has been planned from the start to build facilities and infrastructure by creating a management concept set out in the main plan for the area with the theme of eco green tourism. One of the developments that has been developed in the Mandalika SEZ is the Mandalika International Circuit. The construction of the Mandalika Circuit certainly provides many positive aspects, especially in the local economic sector. The impact of Covid-19 in the Mandalika SEZ could trigger a decline in the tourist market. The circuit as a symbol of the Mandalika SEZ was also affected by Covid-19, this resulted in a reduction in visitors to events at the Mandalika International Circuit. So an in-depth analysis is needed regarding the changes that have occurred as a result of Covid-19, especially in the financial aspect. For feasibility from the financial aspect, cash flow calculations are used with investment feasibility parameters, namely; NPV (Net Present Value), BCR (Benefit Cost Ratio), IRR (Internal Rate of Return), and PP (Payback Period). From the analysis of the financial aspects, the NVP value was obtained with an interest rate of 8.75% per year, in the initial planning phase the value was obtained at IDR 202,628,841,832,- in 2035, then during the operational phase the NVP result was IDR 14,497,533,652,- in 2041, and the NPV multiplier effect is IDR 552,401,765,515 in 2041. The BCR value in the initial planning phase is 1.112 in 2035. During the operational phase the BCR value is 1.008 and in the phase due to the impact of the multiplier effect it is obtained The BCR value is 1.304 in 2041. The IRR value in the initial planning phase was 13.96% in 2035. In the operational phase the IRR was 12.56% and the IRR due to the impact of the multiplier effect was 14.43% in 2041 . The PP value for the initial planning phase is obtained over 8 years. Meanwhile, in the operational phase, PP was obtained for 11 years and PP due to the impact of the multiplier effect was obtained for 9 years. The Mandalika International Circuit project was declared feasible based on analysis data that had been carried out in the operational phase and due to the impact of the multiplier effect, even though it took longer than the initial planning phase.

The paper attempts to assess the impact of variability of selected geological (deposit) parameters on the value and risks of projects in the hard coal mining industry. The study was based on simulated discounted cash flow analysis, while the results were verified for three existing bituminous coal seams.The Monte Carlo simulation was based on nonparametric bootstrap method, while correlations between individual deposit parameters were replicated with use of an empirical copula. The calculations take into account the uncertainty towards the parameters of empirical distributions of the deposit variables. The Net Present Value (NPV) and the Internal Rate of Return (IRR) were selected as the main measures of value and risk, respectively.The impact of volatility and correlation of deposit parameters were analyzed in two aspects, by identifying the overall effect of the correlated variability of the parameters and the indywidual impact of the correlation on the NPV and IRR. For this purpose, a differential approach, allowing determining the value of the possible errors in calculation of these measures in numerical terms, has been used.Based on the study it can be concluded that the mean value of the overall effect of the variability does not exceed 11.8% of NPV and 2.4 percentage points of IRR. Neglecting the correlations results in overestimating the NPV and the IRR by up to 4.4%, and 0.4 percentage point respectively. It should be noted, however, that the differences in NPV and IRR values can vary significantly, while their interpretation depends on the likelihood of implementation.Generalizing the obtained results, based on the average values, the maximum value of the risk premium in the given calculation conditions of the „X“ deposit, and the correspondingly large datasets (greater than 2500), should not be higher than 2.4 percentage points. The impact of the analyzed geological parameters on the NPV and IRR depends primarily on their co-existence, which can be measured by the strength of correlation. In the analyzed case, the correlations result in limiting the range of variation of the geological parameters and economics results (the empirical copula reduces the NPV and IRR in probabilistic approach). However, this is due to the adjustment of the calculation under conditions similar to those prevailing in the deposit.

Aquaculture in Floating Net Cage (FNC) is one of the reliable aquaculture technologies that is used to optimize the utilization of waters on rivers, lakes and reservoirs. The types of fish that is usually preserved in Floating Net Cage are Gold Fish ( Cyprinus carpio ) and Nile Tilapia ( Oreochromis niloticus ). Survey method is applied in this research and data sample is drawn from the farmer population of floating net cages in Kecamatan Pinoh Utara. The objective of this study is to determine the financial feasibility of aquaculture with Floating Net Cage (FNC) system. This achieved by considering Net Present Value (NPV), IRR (Internal Rate of Return), Net Benefit-Cost Ratio (B/C Ratio), Analysis of PP (Payback Periods) and Sensitivity Analysis. The result indicates that aquaculture of Nile Tilapia and Gold-Fish with Floating Net Cage (FNC) system was financially significant shown by Net Presents Value (NPV) 227.246.769,84 rupiahs, Internal Rate of Return (IRR) 190,97%, Net Benefit Cost ratio (B/C Ratio) 4,34 and Payback Periods (PP) 0,53 years (6 months 10 days). The sensitivity analysis indicates that if there was an increase in operational costs, the amount should not be more than 304,19% and if there was a decrease in profits, the amount should not be more than 44,11%. Keywords: Financial Analysis, Aquaculture, Floating Net Cage, Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit-Cost Ratio (B/C Ratio).

Mechanical ventilators are essential albeit expensive equipment to support critically ill patients who have gone into respiratory failure. Adequate numbers should always be available to ensure that a hospital provides the optimal care to patients but the number of patients requiring them at any one time is unpredictable. Finding therefore the best balance in providing adequate ventilator numbers while ensuring the financial sustainability of a hospital is important. A quantitative method using Monte Carlo Simulation was used to identify the optimal strategy for acquiring ventilators in a large private tertiary medical center in Metro Manila. The number of ventilators needed to provide ventilator needs 90% of the days per month (27/30) was determined using historical data on ventilator use over a period of four years. Four acquisition strategies were investigated: three ownership strategies (outright purchase, installment, and staggered purchase) and a rental strategy. Return on Investment (ROI), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), Net Present Value (NPV), and Payback period (or Breakeven Point) for each strategy were determined to help recommend the best strategy.A qualitative survey was also conducted among doctors, nurses, and respiratory therapists who were taking care of patients hooked to ventilators to find out their experiences comparing hospital-owned and rental ventilators. It was found that a total of 11 respirators were needed by the hospital to ensure that enough respirators were available for its patients at least 90% of the days in any month based on the previous four-year period. This meant acquiring three more ventilators as the hospital already owned eight. Among the strategies studied, projected over a 10-year period, the installment strategy (50% down payment with 0% interest over a 5-year period) proved to be the most financially advantageous with ROI = 9.36 times, IRR = 97% per year, MIRR = 26% per year, NPV = ₱39,324,297.60 and Payback period = 1.03 years). A more realistic installment strategy with 15% (paid quarterly or annually) and 25% annual interest rates were also explored with their financial parameters quite like but not as good as the 0% interest. The outright purchase of three ventilators came in lower (ROI = 4.53 times, IRR = 55% per year, MIRR = 19% per year, NPV = ₱38,064,297.60 and Payback period = 1.81 years) followed last by staggered purchase with ROI = 3.56 times, IRR = 64% per year, MIRR = 28% per year, NPV = ₱29,905,438.08, and payback period of 2.06 years. As there was no investment needed for the rental strategy, the only financial parameter available for it is the NPV which came out as ₱21,234,057.60.The qualitative part of the study showed that most of the healthcare workers involved in the care of patients attached to the ventilator were aware of the rental ventilators. The rental ventilators were generally described as of lower functionality and can more easily break down. The respondents almost uniformly expressed a preference for the hospital-owned ventilators. This analysis showed that the best ventilator ownership strategy from a purely financial perspective for this hospital is by installment with a 50% down payment and 0% interest. Moderate rates of 15% and 25% interest per year were also good. These were followed by outright purchase and lastly by staggered purchase. The rental strategy gave the lowest cumulative 10-year income compared to any of the ownership strategies, but may still be considered good income because the hospital did not make any investment. However, it seems that most of the healthcare workers involved in taking care of patients on ventilators thought the rental ventilators were of lower quality and preferred the hospital-owned ventilators.

The purpose of this research is to analyze the feasibility of liquid smoked fish businesses, especially tuna and skipjack, by utilizing liquid smoke technology in Tulehu Village and Waai Village, Central Maluku Regency. To find out whether this liquid smoked fish business is worth running or not. The research used a survey method with direct interview techniques with liquid smoked fish business actors in Tulehu Village and Waai Village regarding the liquid smoked fish production process, marketing, sales and profits obtained. The data obtained was then analyzed for business feasibility from a financial aspect. The analysis technique used is using investment criteria including: Payback Period, Net Present Value, Internal Rate of Return (IRR), and Profitability Index as well as investment risk using sensitivity analysis. The results of this research show that the liquid smoked fish business in Tulehu village and Waai village is considered feasible because the financial aspect is considered to meet the investment assessment criteria, the rate of return on investment (Payback Period) is faster than the project plan, namely 5 years, the Net Present Value has positive value, the Internal Rate of Return is above the expected profit level, and the Profitability Index /Benefit Cash Ratio Ratio is greater than oneKeywords: Feasibility of liquid smoked fish business, Payback Period, Net Present Value, Internal Rate of Return, Profitability Index /Benefit Cash ratio Ratio is greater than one