COST AND TIME ANALYSIS USING EARNED VALUE METHOD CONSTRUCTION OF UPBJJ BUILDING OPEN UNIVERSITY OF SURABAYA PHASE II

Abstract

Project delays often become a source of disputes and claims between owners and contractors, making them highly costly. Contractors face penalties as specified in the contract and incur overhead costs during the ongoing project. From the owner's perspective, project delays lead to reduced revenue due to the postponement of facility operations. A project is prone to delays if planning and control are not executed accurately. Various factors in construction projects can extend the duration, resulting in project completion delays. Therefore, considering this background, this research aims to assess the planning of the construction of Building II at Open University Surabaya Regional Office (UPBJJ) in terms of cost and time performance. The study utilizes the earned value method to analyze the cost and time aspects of the construction project. Based on the analysis, the Estimate at Complete (EAC) indicates an estimated cost of Rp. 73,908,443,223.09 for completing the project. Additionally, the Time Estimate (TE) analysis suggests a projected duration of 53 weeks for project completion.