COST AND TIME CONTROL ANALYSIS OF THE NEW OPERATIONAL BUILDING CONSTRUCTION PROJECT AT FATMAWATI SOEKARNO AIRPORT BENGKULU

Civil Engineering

Cost and time control are crucial components of project management. In addition to quality assessment, a project’s performance can also be evaluated based on cost and time. Significant deviations in cost and time indicate poor project management. One method that can be used to control both cost and time is the Earned Value Method. This method is used to analyze performance and to forecast target achievement. In its application, three main indicators are used: the Actual Cost of Work Performed (ACWP), which represents the actual cost incurred for completed work; the Budgeted Cost of Work Performed (BCWP), which is the budgeted cost for the actual work completed; and the Budgeted Cost of Work Scheduled (BCWS), which is the budgeted cost for the planned work. This study aims to analyze the status and performance projections of the new operational building construction project at Fatmawati Soekarno Airport Bengkulu using the Earned Value Method, estimate the projected cost at project completion, and estimate the expected project completion time. In general, the research analysis method begins with problem identification, followed by a preliminary study to gather necessary information, and then proceeds with data collection through field observation and monitoring. The results show that the Schedule Variance (SV) is positive, indicating that the project performance is relatively good, as the work packages are being completed ahead of schedule. The Schedule Performance Index (SPI) is 1.08, or greater than 1, which suggests that the project is performing efficiently by the 12th week. The work progress meets expectations (on time) and has exceeded the planned targets. The Cost Variance (CV) in the 12th week is also positive, amounting to IDR 47,***,***, meaning that the actual cost incurred is lower than the planned cost. This indicates that the project is financially favorable as of the 12th week, with a cost saving of IDR 47,***,***, The Cost Performance Index (CPI) in week 12 is 1.06, which suggests that the cost performance is relatively efficient since the actual costs are lower than the earned value, implying there is no wasteful spending. The estimated cost at project completion is projected to be IDR 997,***,***. In other words, the project is expected to yield a profit of IDR 61,***,***, or 5.83% of the total project value. The projected remaining cost from week 13 to the end of the project is estimated at IDR 227,060,810. Furthermore, the project is forecasted to be completed earlier than planned, with an estimated completion time of 18.5 weeks.

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