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Cost Benefit Analysis (CBA) For Development Plan of The 1st University Teaching Port

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DOI: 10.23977/msmi.2018.82631

Author(s)

Abdul Aziz Bin Mohamed Ridzwan , Mohd Naim Bin Fadzil, Mohd Hafizi Bin Said , Ahmad Faizal Bin Ahmad Fuad

Corresponding Author

Abdul Aziz Bin Mohamed Ridzwan

ABSTRACT

The Teaching Port concept aims to align the tertiary education and training to fulfill the needs of modern maritime industrial practice. As for Universiti Malaysia Terengganu (UMT), the location of the campus is very strategic as it located along the coast of South China Sea so it gives an advantage to the university’s vision as a country’s leading and globally respected marine-focused university. Apart of the University Development Plan (2021-2030), UMT will develop the first Teaching port in Malaysia. This teaching port is also fulfilling the practical education for other area in the university such as Tourism, Marine Science and others. Therefore, this paper analyzed the development plan that have been proposed based on the Cost Benefit Analysis. The interview sessions were conducted with university’s top management and selected expert. The collected data from the interview were used to derive the online survey questionnaire and distributed to selected group of people. Then, the data from the survey was analyzed by using Demand and Supply relationship, expert judgment and Choosing by Advantages to rank the capacities that had high potential for the development of Pantai UMT as a teaching port. As for the recommendations on the potential development of propose teaching port, there were only top three were selected. Then, it were analyzed by a Cost Benefit Analysis (CBA). The analysis was divided into two parts, mainly cost and benefit that comprises of nine steps. In simpler form, the total cost and benefit are calculated. Finally, it is identified that Public Marine Research Center, Tourism Center and Water Sport Center have the highest potential and demand among those six potential capacities. Based on CBA for the three capacities, it is found that these three capacities have a lot of benefits and profitable if it’s operated as facilities in the teaching port.

KEYWORDS

Teaching Port, Benchmarking, Maritime Education and Training, Cost Benefit Analysis.

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