Penelitian ini dilakukan untuk menganalisis investasi sektor publik pembangunan Pasar Rangge Sentap yang dilakukan oleh pemerintah daerah Kabupetan Ketapang, apakah investasi tersebut layak secara finansial maupun secara sosial. Alat analisis yang digunakan dalam penelitian ini adalah dengan menggunakan metode Payback Period, Net Present Value, Internal Rate of Return, Profitability Index,. Benefit Cost Ratio dan Analisa Efektivitas Biaya (Cost- Effectivess Analysis) Berdasarkan hasil perhitungan rasio-rasio finansial yang dilakukan dalam penelitian ini, maka secara finansial proyek investasi Pasar Rangge Sentap tidak layak. Namun jika dihitung dengan menggunakan metode cost-effectiviness dengan berdasarkan persepsi masyarakat yang diperoleh melalui kuesioner dapat diketahui bahwa hasil analisis terhadap faktor-faktor yang mempengaruhi manfaat pembangunan Pasar Rangge Sentap di Kabupaten Ketapang menunjukkan variabel keamanan, kenyamanan, dan pendapatan memberikan pengaruh positif dan dapat diklasifikasikan sebagai manfaat (benefit), sedangkan variabel lingkungan memberikan pengaruh negatif dan diklasifikasikan sebagai biaya (cost). Sebagai proxy untuk menghitung benefit dan cost diperoleh hasil perhitungan rata-rata responden menjawab Present Value (PV) nilai moneter variabel keamanan senilai Rp. 5.270.613.067,00, variabel kenyamanan senilai Rp. 4.372.495.431,00, variabel pendapatan senilai Rp. 1.808.979.993,00 dan variabel lingkungan senilai Rp. 545.142.000,00, dengan demikian dapat dijelaskan selisih PV manfaat dikurangi biaya senilai Rp. 10.906.946.492,00, ditambah cash flow komulatif Rp. 5.975.424.544,00 dikurangi nilai investasi senilai Rp. 7.757.838.000,00, sehingga manfaat sosial bersih (Net Social Benefit) senilai Rp. 9.124.533.036,00, ini menunjukkan bahwa pembangunan Pasar Rangge Sentap dinilai layak karena memberikan manfaat sosial yang cukup tinggi baik bagi masyarakat maupun bagi Pemerintah Daerah Kabupaten Ketapang

This research is meant to analysis the public sector investment from the building of Market Rangge Sentap carried out by regional government Ketapang Regency if it is reasonable financial or socially. The analysis tools used in this research is by using payback period, present value, internal rate of return, profitability index, benefit cost ratio and cost effectiveness analysis methods. Based on the financial ratio counting carried out in this research, the investment of market Rangge Sentap is not reasonable financially. However, if it is considered by using cost-effectiveness method based on the social perception resulted through questionnaire, it can be found that the analysis results for the factors influencing the benefit building Market Pasar Rangge Sentap in Ketapang Regency show that the variable of safe, comfort and income have influence positively and can be classified as benefits, while the variabel of environment gives the negative influence and can be classified as costs. As proxy to count benefit and cost can be found that the average respondent answer that the Present Value (PV) of value moneter on the variable of safe is Rp. 5.270.613.067,00, the variable of comfort is Rp. 4.372.495.431,00, the variable of income is Rp. 1.808.979.993,00 and the variable of environment is Rp. 545.142.000,00. It can be explained that the difference of the PV benefit minus cost is Rp. 10.906.946.492,00, plus cash flow cumulative Rp. 5.975.424.544,00 minus the investment value is Rp. 7.758.838.000,00 Therefore, the net social benefit is Rp. 9.124.533.036,00. It shows that the building of Market Rangge Sentap is reasonable because it gives high social benefit both for the society and regional government of Ketapang Regency.

Kata Kunci : Payback period(PP),Net present value (NVP),Internal rate of return (IRR),Profitability indek (PI),Benefit cost ratio (BCR),Cost,effectives analysis (CEA),Willingness to accept (WTA)