Effective Performance Evaluation to Estimate Cost and Time Using Earned Value

Abstract

The data from Badan Pusat Statistik (BPS) Indonesia, show that the development sector in the Yogyakarta region is changing rapidly, especially with the construction of new airports in the region. That demands the effectiveness and efficiency of cost and time in every construction. It requires supervision, evaluation, and performance control in the construction process. In this effort, this research discusses more detail about the calculation of construction project performance using the earned value method. This research conducted on an integrated development project consisting of malls, hotels, and apartments in Sleman, Yogyakarta. The research data collection was carried out by direct observation and analysis of supporting project data. The data obtained were processed and analysed using the accepted value method. The results of this study indicate that at the end of the review, the Schedule Performance Index (SPI) obtained a value of 0.58. Project progress in the field shows that the project has a 41.48% delay. It can see from the initially planned project of 99.06%, but at the time of review, the realisation was only 57.22%. In terms of costs, the Cost Performance Index (CPI) is 1.25. It shows that the costs incurred during the review are still less than the existing budget plan. At the end of the review period, the estimated final project costs are obtained, both direct and indirect costs. With the tendency of project performance at the time of review, the value is still less than the project budget, while the estimated time of project completion will be longer or late at around 56.52% of the planned schedule.