Earned Value Method Research Articles

Analysis of Construction Project Cost and Time Using the Earned Value Method

This study aims to analyze the cost and time performance of the renovation project of Arwana Restaurant The Laguna Resort and Spa Nusa Dua by applying the Earned Value method. The data used in this study include the Cost Budget Plan (RAB), project implementation schedule, weekly project progress reports, and project expenditure reports. The calculation is done by calculating the value of ACWP (Actual Cost of Work Performed), BCWS (Budgeted Cost of Work Schedule), BCWP ( Budgeted Cost of Work Performed ), CV ( Cost Variance ), SV ( Schedule Variance ), CPI (Cost Performance Index), SPI (Schedule Performance Index), ETC (Estimate to Complete), ETS (Estimate Time to Complete), EAC (Estimate at Completion), and EAS (Estimate at Schedule). The results of the analysis show that at the beginning of the project the performance was good, but other things began to decline from the 11th week to the 23rd week. At the end of the project, performance improved again as indicated by a CPI value of 1.07 and an SPI of 1 indicating lower costs and time according to plan. The estimated total final project cost (EAC) of Rp2,947,878,984.57 was lower than the Cost Budget Plan (RAB) of Rp3,143,852,000, resulting in a profit of Rp195,973,015.43. The estimated total final project time (EAS) was in accordance with the planned schedule, which was 27 weeks. In conclusion, overall the project performance was quite good even though it had declined in the middle of the project implementation.

A Fuzzy Approach on Earned Value Method to Evaluate Project Performance in Solojebres Commuter Depot

A Fuzzy Approach on Earned Value Method to Evaluate Project Performance in Solojebres Commuter Depot

Analysis of Cost and Time Using Earned Value on the Boarding School Construction Project at SMA Muhammadiyah 3 Tulangan Sidoarjo

Effective project management is crucial for the successful completion of construction projects, including the construction of a dormitory at SMA Muhammadiyah 3 Tulangan. Challenges such as design changes, adverse weather conditions, and limited labor resources impact the project's progress. The Earned Value Method is used to monitor project performance by analyzing indicators like BCWS, BCWP, ACWP, SV, CV, SPI, and CPI. This analysis shows that the project initially experienced delays and exceeded budget costs, but the situation improved significantly over time. Despite weekly variations in costs, the project remained on a financially manageable track. The conclusion from this analysis is that while the project faced time delays, cost performance remained under control. Recommendations for improvement include more thorough planning, better resource management, and quicker responses to changes.

EVALUATION OF TIME AND COST PERFORMANCE ON THE GX OFFICE & CO WORKING BALI PROJECT USING THE EARNED VALUE METHOD

In rapid construction developments, delays still occur frequently and have not been resolved, as experienced by the GX Office & Co Working Bali project. The project will be completed in 42 weeks, but in the 27th week, there is an indication of a delay of -4.31% from the initial plan. Earned Value Method (EVM) is a time and cost performance assessment method that can be used to develop strategies to minimize delays. This research aims to evaluate the time and cost performance of the GX Office & Co Working Bali project using the EVM method. A quantitative approach is used to collect and analyze project schedules, actual costs, and progress reports. EVM key indicators such as Planned Value (PV), Earned Value (EV), and Actual Cost (AC) are analyzed to determine Schedule Variance (SV), Cost Variance (CV), Schedule Performance Index (SPI), and Cost Performance Index (CPI). The results showed that the project experienced delays, especially from week 1 to week 14 and week 19 to week 27, with SPI values mostly below 1. However, the project showed increased efficiency in cost management with values CPI above one after week 14 to week 27, indicating that the actual costs incurred are lower than the value of the work completed. These findings highlight the need for corrective actions and more effective management strategies to address delays efficiently in terms of costs.

Earned Value Analysis Terhadap Waktu dan Biaya Pada Proyek Pembangunan Gedung Pasar Padang Panjang

Along with the population and economic growth of West Sumatra, especially in Padang Panjang City, West Padang Panjang District, the need for public facilities is urgently needed, one of which is the Padang Panjang market. In a project, planning and controlling costs and time is part of overall project management, especially at the implementation stage of the case study reviewed by researchers, namely the Padang Panjang market building construction project. In this research regarding time and cost control, the earned value method is one method that can monitor project performance in terms of time and cost. Which aims to determine project performance in terms of time and costs each week and predict the time and costs to complete the remaining work. So that we can get corrective actions to be taken next to progress the project. In this research, to obtain a basic basis for writing, secondary data collection is used as supporting data for the analysis of the results themselves. The analysis and discussion carried out were calculating the BCWS value, BCWP value and ACWP value in order to obtain the time variance value (SV), cost variance value (CV), calculating the productivity index, calculating project performance and calculating the estimated analysis of total project costs and completion time. The results of the research carried out are, the overall BCWS value of the Padang Panjang market project is IDR 96,213,315,046.3, for the BCWP value at the end of the 22nd week of review IDR 12,688,575,967, the ACWP value at the end of the 22nd week of review is IDR. 12,389,476,444.2 . As for the analysis results obtained from several existing indicators, the SPI value was 1.384 > 1, while the CPI was 1.003 > 1, which means that the project was accelerated in terms of schedule but incurred actual costs that were smaller than the work that had been carried out. The ETC value is IDR 84,134,151,328.9 and the EAC value is IDR 96,523,627,773.1, while the ECD value is 373 days for the project completion time.

Time Optimization Analysis Of Drainage Projects (Case Study: Surya Indah II Complex Drainage Construction)

The rapid development of the world of construction means that competition in the construction services business must be able to compete. Therefore, careful consideration is required to choose a method so that a construction project can run effectively and efficiently with results that meet the objectives, one of which is the Surya Indah II Complex Drainage Construction. In a development project, considerable processing is required, taking into account the increasing size of the project and the complexity of the dependencies between one part of the work and another in a project to achieve the desired results. Proper scheduling along with adequate resource allocation contributes to project success. This is comparable to the Surya Indah II Complex Drainage Development Project in Banjarbaru City, which has a contract value of 1,480,920,041 billion. This project was supposed to be completed in 180 calendar days; however, it was delayed due to a variety of issues, including bad weather, a shortage of labor, and tardy mobilization. According to the data analyzed in this study, the CPM (critical path method) approach has a critical route. The total project period using the CPM approach is 170 days, calculated based on the longest critical route. Work networks studied using the critical path include mobilization work, tree trunk cutting, concrete demolition, asphalt cutting, box culverts, and other tasks. Using the CPM approach, you can cut the job duration by 2.8% of the contract value. The solution to speed up the duration obtained using the CPM method is to add workers, add productivity tools, add working hours to activities that are on the critical path, and add the Earned Value method for optimal results.

ANALYSIS OF COST AND TIME PERFORMANCE ON THE EAST SURABAYA HOSPITAL CONSTRUCTION PROJECT USING THE EARNED VALUE METHOD

The construction of the East Surabaya Hospital is a multiyear project, starting from 2023 to 2024. The project has a contract value of Rp. This 494,603,098,000 is funded by the Regional Revenue and Expenditure Budget (APBD) of the Surabaya City Government. This research aims to analyze the cost and time performance of the project. The method used is the earned value method. The results of the cost and time performance analysis using the Earning Value method show that the cost performance and time performance of the East Surabaya Hospital Construction in the 22nd (twenty-second) week is considered not good. This result is shown by the Cost Variance value of Rp. - 608,118,565 and Schedule Variance value Rp. - 44,410,784,255. The Cost Performance Index value of 0.996 and the Schedule Performance Index value of 0.76 also shows that the cost and time performance of this project in the 22nd (twenty-second) week is not in good condition.

Time and Cost Management in Water Resources Projects Utilizing the Earned Value Method

Today, the development of infrastructure and construction projects in developing countries is of paramount importance. Water projects, in particular, play a crucial role in advancing agriculture, industry, and the economy. The success of these projects hinges on the effective management of time, cost, and quality. The most critical indicator of a project's success is its completion within the forecasted time and budget leading up to its operation. This study aims to assess the impact of Earned Value Management (EVM) 's impact on managing project schedules and budgets in water resource projects. The earned value method was employed to ascertain if the project was ahead or behind schedule and whether the costs were within the budget or had overrun. The values of the Earned Value Index were analyzed at three stages of project implementation. Examining the Schedule Variance (SV) at various phases indicates that a lower percentage is more advantageous for the project. Initially, the SV was 40%, signaling a delay mainly due to the delayed start of operations in the injection gallery and access points. This improved to 25% in the second stage, with the commencement of previously lagging activities. The schedule variance decreased to 11.6% in the final stage, aligning closer to the project schedule's end. Additionally, the Schedule Performance Index (SPI) value, which reflects the efficiency of project management in terms of timeliness, improved from a weak start of 0.6 to 0.88 (with 1.0 indicating that project performance is on target).

Analysis of Delays and Time Acceleration Strategies in the Renovation of Grha JST Building

Effective construction project management necessitates adherence to cost, quality, and timeline objectives. However, delays frequently challenge project success, impacting both schedule and budget. This research investigates the causes and consequences of delays within the Grha JST building renovation project, exploring mitigation strategies. Utilizing the Earned Value and Crashing methods, the study analyzes project performance to identify efficient delay management approaches. Recommendations are provided to enhance future project execution and mitigate delays effectively.

Estimated Cost And Time For Completion Of The Bali GX Office And Co Working Project Using The Earned Value Method

The GX Office & Co Working Bali construction project faced significant delays in the 27th week with a deviation of -4.31%, which could result in increased costs and delays in completion. So, an effective solution is needed to overcome project delays and ensure that the project is completed on time and within budget. This research aims to examine the application of the Earned Value Method (EVM) in evaluating the performance of the GX Office & Co Working Bali project by calculating the Estimated Temporary Schedule (ETS), Estimated All Schedule (EAS), Estimate Temporary Cost (ETC) and Estimate All Completion (EAC). The research uses descriptive quantitative methods by collecting data from weekly project progress reports, actual costs, and planned values. Data analysis was carried out by calculating Planned Value (PV), Earned Value (EV), Actual Cost (AC), Cost Performance Index (CPI), Schedule Performance Index (SPI), ETS, EAS, ETC, and EAC. The research results show an ETS value of 114 days with an EAS of 303 days. So, there is an additional time of 9 days from the planned schedule. ETC results amounted to IDR 3,723,631,710.12, with EAC amounting to IDR 7,699,818,710.12. So, the cost of completing the project is lower than planned, with a difference of IDR 2,545,727,760.88. The results of this research contribute to the project management literature by showing the effectiveness of EVM in identifying deviations and the basis for making strategic policies needed so that projects can be completed on time according to plan.

Analysis of The Effectiveness of Earned Value Method In Road Widening Project Management In Mojokerto Regency

In construction project management, achieving three main goals, namely cost, quality, and time, becomes the primary focus. This study aims to evaluate a road widening project in Mojokerto Regency with a target completion time of 150 days. To prevent delays and cost overruns, researchers adopted the Earned Value method as a tool to identify early warnings regarding project performance. This method integrates cost and time measurements through indicators such as Cost Variance (CV), Schedule Variance (SV), Cost Performance Index (CPI), Schedule Performance Index (SPI), Estimated at Completion (EAC), and Estimated Schedule at Completion (EAC). The analysis results show that the additional costs required (ETC) amounted to Rp 3,276,704,110.14, with an estimated additional time (ETS) up to the 12th week being 87 days. The project's cost change (EAC) reached Rp 3,961,767,811.01 from the contract cost, while the estimated project completion time (EAS) was 171 days. These findings indicate that the construction service provider has implemented an efficient execution method with consistent monitoring, ensuring the smooth progress of the project.

Accelerating the middle – rise building construction duration using BIM 4D, a case study in central Jakarta

Construction planning involves scheduling and sequencing of project activities for proper execution. Research was conducted to obtain and enhance construction project scheduling, which was good and in accordance with the targets achieved. The results of the project performance analysis in the 9th month using the Earned Value Method resulted in SPI <1 and SV <0, indicating that the project experienced delays. Scheduling using the PDM based on the actual duration of the project shows that the project will be completed in 511 days. The project duration can be accelerated to 429 days by combining overlap and overtime methods. The scheduling results were simulated using BIM 4D to generate a visualization of the scheduling to improve the project monitoring process.

Application of the Randomized Earned Value Method to assess the advancement of the construction of the office building under the unstable implementation conditions

The REVM method is a modernized option of classical EVM method. The new method has been developed for applying in unstable condition of works implementation. When the works can be accidentally disturbed and the impact of random disruption factors on course and results of works must be taken into consideration. Next, Randomized Budgeted Duration to Completion and Randomized Budgeted Cost to Completion that is duration and cost of works remaining to execution after each inspection, as well as the Randomized Budgeted Duration at Completion and Randomized Budgeted Cost at Completion that is duration and cost of all works of the project completion after the site inspection. Moreover, the risk of durations and costs overrun of works are evaluated. It is important that input data required for the REVM method are the similar and are measured in the same way as in typical control of advancement works. But results of the application consist new decision information. Control of the investment under deterministic conditions, without taking into account the risk of disruptions, resulted in a final deviation from the planned budget of over 7%, and from the planned completion of the investment by almost 12%. Without analysing the factor related to disruptions at the investment implementation stage, the material and financial schedule was completely outdated. On the other hand, when controlling the investment under risk conditions and introducing organizational and technological changes adequate to the inspection reports, the final deviation from the planned budget was less than 2%, and slightly more than 2% from the planned completion date. Researches confirm that the results received by using the REVM method well reflect real situation of works implementation.

Monitoring Energy-Loss-Driven-Cost by Using Earned Value Simulation in Complex Systems

The economic impact of energy loss stemming from end-user electricity consumption is a significant concern, with historical trends revealing escalating costs. Effectively managing both peak and off-peak demands remains a formidable challenge due to the unpredictable nature of consumer behaviors, leading to energy wastage. This study delves into the nexus of demand uncertainty, financial repercussions, and potential strategies to mitigate energy losses in the evolving landscape of electricity consumption.that causes financial loss. This simulation measure of time series data serves the purpose of determining what possibly contributes to policy and regulatory reforms and its notion as an economic growth pathway in Australia. The objective of this study is to build a relationship between social factors and financial aspects and discuss the issue of energy loss that emerges from the lack of leverage between end-users, providers and suppliers of electricity. Recognising the financial burdens associated with energy loss as electricity demand continues to rise, the investigation aims to elucidate the complexities underlying the difficulties in controlling these losses. The distinctiveness of the electricity industry, characterised by its prototypical nature, introduces dynamics that contribute to energy losses, thereby impacting electricity prices. Employing quantitative analysis, this research employs the Earned Value Method (EVM) tool to scrutinise the influential role of consumer behavior in precipitating financial losses. The study provides a comprehensive examination of the interplay between electricity demand and the adverse effects of energy loss during peak and off-peak consumption periods. Utilising time series data through simulation measures, the research identifies key metrics influencing the formation of electricity costs and prices. The findings not only contribute to a deeper understanding of the energy loss parameter but also offer insights into potential policy and regulatory reforms. With a focus on Australia, the research aims to establish a relationship between social factors and financial considerations, emphasising the issue of energy loss arising from the lack of alignment between end-users, providers, and suppliers of electricity. The study concludes by proposing pathways for economic growth through strategic interventions and collaborative efforts within the electricity ecosystem.

Analisis Biaya dan Waktu pada Proyek Jembatan (Studi Kasus Proyek Pembangunan Jembatan Candisari Sambeng Kabupaten Lamongan) dengan Menggunakan Metode Earned Value

Project management has three main objectives when carrying out construction projects including cost, quality, and time. If a project can be completed with a predetermined level of quality or quality, then the project has been successfully managed. This research uses earned value method. That is a method of knowing costs based on the work that has been done. Thus we can find out whether the Candisari Sambeng bridge construction project in Lamongan Regency is faster or longer than the schedule that has been made. CV value has a negative value in the 15th period, namely -Rp 18,078,304 SV value there is a negative value until the 18th period with a value of -Rp 494,817,905 CPI value found in the 15th week period with a value of 0.995. The SPI value in the 18th period with a final SPI value of 0.903 estimated cost (EAC) is. IDR 5,166,992,802 estimated EAS time for the jembata replacement project of 21,320 weeks. If the performance is considered the same project, the cost required to complete the construction of the bridge is Rp 5,166,992,802 from the total project budget of Rp 5,346,534,000 so that it gets a profit of Rp 179,541,198, and the time needed to complete the construction work is 21,320 weeks from the specified time of 21 weeks so that the project implementation is delayed for 0,320 weeks.y.

TIME PERFORMANCE ANALYSIS ON AFV EARTHWORK IN KEDUNGPELUK SIDOARJO USING THE EARNED VALUE METHOD

Construction project management has three main goals that must be achieved, namely cost, quality and time of work Plengsengan Afv. Kedungpeluk Sidoarjo which is planned to be completed within an estimated time of 120 calendar days and there are obstacles to contractor implementers who experience delays of 6.98% in this study researchers make efforts to find out Early Warning if there is poor performance in project completion so that management policies and changes in implementation methods can be made so that delays in project completion can be prevented. Earned Value Method is used in the management of Afv Plengsengan work. Kedungpeluk Sidoarjo which will integrate the concept of time value. Earned Value Method is calculated from various factors that show the progress and performance of the project such as Schedule Variance (SV), work productivity index (CPI), time productivity index (SPI), and project completion schedule forecast (ECD), The results of using Earned Value Method get the results The amount of time required (ETS) at the end of the 8th week review is 91 days. While the time to complete the project (EAS) is 140 days. With this, the rate of change in project completion time is 0.16% longer, Based on the results of the analysis obtained for construction service providers who carry out development work, must apply good and efficient implementation methods in all stages of work with consistent supervision so that there is no delay in the construction work of Plengsengan Afv. Kedungpeluk Sidoarjo.

EARNED VALUE ANALYSIS FOR COST AND TIME EFFICIENCY ON THE BONDOWOSO POLIJE CAMPUS ADMINISTRATION BUILDING PROJECT

The problem in the implementation of the Bondowoso Polije Campus Administration Building Project is the limited cost and time available. With a 5 (five) storey building design with a reinforced concrete structure, each floor of which has an area of 240 m2 with a total floor area of almost 1440 m2, this building is a fairly complex building, in terms of the function of the building itself. The contract value of physical work amounted to Rp. 5,599,873,601.60 and was carried out within 120 days or 18 weeks. This research method uses Earned Value Method. From the analysis, results and discussion of the Bondowoso Polije Campus Administration Building project, the main conclusion is that there are variations in cost and time during the project period, with the lowest value of Cost Variation reaching (-)Rp 228,191,016.04 in week 7. Although the Cost Productivity Index (CPI) showed positive and negative variations, with a low of 0.672 in week 7, the Time Productivity Index (SPI) was always &lt; 1, reaching a final value of 0.663. The estimated cost (EAC) to complete the project is IDR 5,993,156,919.70, while the estimated total work time (EAS) of the project is 20.543 weeks. Overall, the project is expected to experience a delay of 2.543 weeks and a cost loss of Rp 393,323,318.10.

ANALISIS KINERJA BIAYA DAN WAKTU PROYEK PEMBANGUNAN SALURAN KANTOR PEMDA – EXIT TOL KEBOMAS GRESIK DENGAN MENGGUNAKAN METODE EARNED VALUE

One of the supplementary structures rod ways that statisfies a technical need for road infrastructure is the drainage channel. The construction of the canal in this project was carried out from 01 July 2020 to 12 December 2020. With a contract value of Rp.4,339,944,950.06 and was carried out by the Contractor CV.Batu Mas. This project shows quite high progress, reaching 40.73% of project construction realization in the 11th week, while the planned progress of the project only reached 19.15% in that week. But time and money management are necessarry for the implementation circumstances in any project. Before using this control measure, the project’s performance must be known.The Earned Value method is one way to find out the Project Result Value. Combining schedule, cost, and job performance is the way to do this method.The performance in the project is influenced by several things. One of these things is used by means of a SWOT analysis. SWOT analysis is useful for knowing what variables affect project performance.

ANALYSIS OF COST AND TIME PERFORMANCE IN THE WADUNGASRI MARKET CHANNEL NORMALIZATION WORK IN SIDOARJO USING THE EARNED VALUE METHOD

The construction project management for Wadungasri Sidoarjo Market Drainage Normalization aims to achieve cost, quality, and time objectives within a 100-day timeframe. This study addresses a 7.44% delay experienced by contractors, seeking to establish early warning mechanisms for poor project performance. The Earned Value Method is employed, integrating time and cost value concepts. Key indicators such as Cost Variance (CV), Schedule Variance (SV), work productivity index (CPI), time productivity index (SPI), project completion cost forecast (EAC), and project completion schedule forecast (ECD) are utilized. The results reveal a required cost of Rp 563,044,547.85 (ETC) and a 65-day timeframe (ETS) at the end of the 7th week, with a 0.64% increase in project completion cost (EAC) over the contract cost. The project completion time (EAS) is estimated at 114 days, reflecting a 0.14% extension. The analysis emphasizes the importance for construction service providers to implement efficient methods and consistent supervision to avoid delays in the Wadungasri Sidoarjo Market Drainage Normalization project.

Pengendalian Proyek dengan Metode Earned Value pada Pekerjaan Rehabilitasi Jaringan Irigasi Sumber Nangka Jember

The rehabilitation of the D.I Sumber Nangka Irrigation Network takes 180 days or about 6 months to implement, with a budget of Rp. 4,077,964,693. In this study, the authors will analyze the data using the Earned Value method. Therefore, there is no shortage of research on the basic components of project work costs and the realization of completion of work in the field is not too late. The purpose of this research is to calculate the cost of BCWS, BCWP, and ACWP. The results of the D.I Sumber Nangka Irrigation Network Rehabilitation study, Kec. Ledokombo was completed in the 24th week with a total cost of Rp. 4,077,964,693. in the 1st week to the 24th week the fee used is Rp. 3,702,175,554.