1. Studi Kelayakan (Feasibility Study)
Departemen Teknologi Industri Pertanian
Fakultas Teknologi Pertanian IPB

2. Pengertian
Pengkajian berbagai aspek penting dari sebuah gagasan proyek untuk memberikan landasan kuat apakah proyek dapat diteruskan
Kegunaan studi kelayakan:
Merumuskan kegiatan-kegiatan untuk pengembangan dan implementasi proyek
Mengestimasi berbagai keperluan proyek: waktu, SDM, equipment
Mengidentifikasi biaya-biaya yang diperlukan dan manfaat yang ditimbulkan proyek
Kelayakan: operationally, technically, and economically feasible

3. Persyaratan User involvement during feasibility study is critical
Considerable experience and technical expertise are required to gather the proper information, analyze it, and reach practical conclusion
Hindari: terminate a valid project or continue the one that is not economically or technically feasible.

4. Posisi Studi Kelayakan dalam Investment Project Cycle
Pre-Selection
PRE-FEASIBILITY STUDY
Preparation
FEASIBILITY STUDY
SUPPORT STUDIES
Identification
OPPORTUNITY STUDY
Appraisal
APPRAISAL REPORT
Pre-Investment Phase
Expansion Innovation
Negotiations and contracting
Operating Phase
Investment Phase
Replacement Rehabilitation
Engineering design
Construction
Commissioning and start-up
Pre-production marketing
Training

5. The Pre-investment Phase
Opportunity studies: Identification of investment opportunities
Pre-feasibility and feasibility studies: Analysis of project alternatives, preliminary project selection, and project preparation
Appraisal report: Project appraisal and investment decision
Support studies: To be incorporated into pre- and/or feasibility studies.

6. Opportunity Studies
The starting point in a series of investment-related activities; should analyze the following:
Potential natural resources for processing and manufacturing
The existing agriculture pattern that serves as a basis for agro-based industries
Future demand as a result of increasing population or purchasing power or newly developed goods
Imports to identify areas for import substitution
Possible interlinkage with other industries
Possibilities for product diversification or capacity expansion
Export possibilities

7. Pre-feasibility Studies
A more detailed study for a project idea just before assigning larger funds for feasibility study
The objectives are to determine whether:
All possible project alternatives have been examined
The project concept justifies a detailed analysis
The project idea attractive enough for an investor
The environmental situation at the planned site and potential impact are inline with national standard
Any aspects are critical to its feasibility

8. Pre-feasibility Studies …
A pre-feasibility study should be viewed as an intermediate stage between a project opportunity study and a detailed feasibility study
The difference is in the degree of detail of the information obtained and the intensity with which project alternatives are discussed
The structure of a pre-feasibility study should be the same as that of feasibility study

9. Support (Functional) Studies
Cover specific aspects of an investment project; prerequisites for pre-feasibility studies, such as:
Market studies of product to be produced
Raw material and factory supply studies covering current and projected availability of raw material supply and price
Laboratory and pilot-plant test
Location studies
Environmental impact assessment
Economies-of-scale studies
Equipment selection studies

10. Feasibility Studies
Should provide all data necessary for an investment decision
The commercial, technical, financial, economic, and environmental prerequisites should be defined and critically examined  the project is clearly defined in terms of objectives, marketing strategies, market shares, production capacities, plant location, existing raw materials, appropriate technology and mechanical equipment, and an environmental assessment
The financial part covers the scope of the investment: the net working capital, the production and marketing costs, sales revenues and return on capital invested.

11. Appraisal Report
Is considered as an independent stage of the pre-investment phase marked by the final investment and financing decisions taken by the project promoters
Aspects to be evaluated: technical, commercial, market, managerial, organization, financial and economic.

12. Promotion of Industrial Investment Projects
Identification of potential sponsors
Negotiations and establishment of cooperation agreement
Determining potential sources of finance  in most developing countries depends on foreign funds due to low saving capacity.

13. Outline of Pre- and Feasibility Studies
Executive summary: a synoptic review of all the essential findings of each aspect
Project background and history:
project sponsors
project history
cost of studies and investigations already performed
Market analysis and marketing concept:
Definition of the basic idea of the project, objectives and strategy
Demand and market
Structure and characteristics of the market
The estimated existing size and capacities of the industry
Past imports and their future trends, volume and prices
Role of the industry in the national economy

14. Outline of Pre- and Feasibility Studies …
Marketing concept, sales forecast and marketing budget
Description of the marketing concept, selected targets and strategies
Anticipated competition for the project from existing and potential local and foreign producers and suppliers
Localization of markets and product target group
Sales program
Estimated annual sales revenue from products and by-products
Estimate annual costs of sales promotion and marketing
Production program required:
Products
By-products
Wastes (estimated annual cost of waste disposal)

15. Outline of Pre- and Feasibility Studies …
Material inputs (approximate input requirements, their present and potential supply position, and a rough estimate of annual costs of local and foreign material inputs):
Raw materials
Processed industrial materials
Components
Factory supplies:
Auxiliary materials
Utilities: power and energy requirements

16. Outline of Pre- and Feasibility Studies …
Location, site, and environment:
Pre-selection, including an estimate of the cost of land
Preliminary environmental impact assessment
Project engineering:
Determination of plant capacity: feasible normal plant capacity
Quantitative relationship between sales, plant capacity and material inputs
Preliminary determination of scope of project
Technology and equipment:
Technologies and processes that can be adopted
Technology description and forecast
Environmental impact of technologies
Rough layout of proposed equipment
Rough estimate of investment cost of equipment.

17. Outline of Pre- and Feasibility Studies …
Civil engineering works:
Rough layout of civil engineering works, arrangement of buildings, short description of construction materials to be used
Site preparation and development
Building and special civil works
Outdoor works
Rough estimate of investment cost of civil engineering works
Organization and overhead costs:
Rough organizational layout: general management, production, sales, administration
Estimated overhead costs: factory, administrative, financial

18. Outline of Pre- and Feasibility Studies …
Human resources:
Estimated human resource requirements, broken down into labor and staff
Estimated annual human resource costs
Implementation scheduling:
Proposed approximate implementation time schedule
Estimated implementation costs

19. Outline of Pre- and Feasibility Studies …
Financial analysis and investment:
Total investment costs
Rough estimate of working capital
Estimated fixed assets
Project financing
Proposed capital structure and proposed financing (local and foreign)
Cost of finance
Production costs ( materials, personnel, overhead, fixed, and variable costs)
Financial evaluation:
Payback period
Internal rate of return
Break even point
Sensitivity analysis
National economic evaluation:
Foreign exchange effect, value-added generated, employment effect.

20. The Investment Phase
Provides wide scope for consultancy and engineering works; several stages:
Establishing the legal, financial and organizational basis for implementation
Technology acquisition and transfer
Detailed engineering design and contracting including tendering, evaluation of bids and negotiations
Acquisition of land, construction work and installation
Pre-production marketing
Recruitment and training of personnel
Plant commissioning and start-up

21. The Operational Phase
Short-term viewpoint: relates to the initial period after commencement of production  inadequate labor productivity, lack of qualified staff, etc.
Long-term viewpoint: relates to chosen strategies and the associated production and marketing costs as well as sales revenues.