Analysis of the Effect of Time and Cost Performance Risk of Toll Road Project Based on the Principle of Project Management Body of Knowledge

Abstract

Toll road facilities are needed by the community to improve economic standards with adequate mobility. Toll Road Projects often have delays in the implementation schedule which results in increased project costs. This study aims to determine the effect of the risk of increasing costs on toll road projects caused by delays in project implementation time based on PMBOK guidelines. This research is based on the object of the Japek II Selatan Package III Toll Road project and studies journal literature, surveys, and questionnaires using the SEM Smart PLS program. The effect of risk on cost performance is variable due to the lack of project land readiness. Based on project data from the contract, it was supposed to be completed in December 2020 but was pushed back to mid-2024 estimates. The effect is due to an increase in costs, with a percentage of 2%; in this study, the factor of implementing K3 Projects is in the form of work accident costs. The analysis of SEM PLS shows the effect of time and cost performance on the Planning and Implementation of land readiness indicators, unit price increase, project K3 implementation, and risk management implementation. The study concludes that the risk of increasing costs includes poor planning, which is hampered by land readiness and results in delays in implementation time and year differences that cause changes in material unit prices, resulting in an increase in project costs. Risk Management, as stated in the PMBOK guidelines on Toll Road Projects, must be implemented to reduce the impact of the risk of increasing project costs.