Penerapan earned value management dalam estimasi biaya proyek Jalan Koridor Utama Pelabuhan – Bandara Batam

Abstract

Cost overruns are a prevalent issue in the construction sector, particularly in infrastructure projects such as road development, where actual project costs often exceed budgeted amounts. This study aims to evaluate and analyze the cost and schedule performance of the Batam Main Corridor Road Project and calculate the estimated cost needed to complete the project in each monthly reporting period using earned value management (EVM). The methodology provided a profound understanding of project dynamics and assisted in making more accurate cost estimates. The study involved calculating planned value, earned value, and actual cost, followed by variance analysis and performance index to identify deviations from the project plan as well as calculating estimate at completion (EAC). The findings revealed significant initial challenges with schedule performance, as indicated by an SPI below one, implying slower project progress than planned, leading to higher initial cost estimates reflected in the EAC3 model. However, improvements from the second month onward allowed the project to catch up, with consistent SPI values above one. Ultimately, the project cost management ef iciency was reflected in positive CV and the CPI consistently above one, indicating that the actual project execution costs were lower than budgeted. The inclusion of EAC in the EVM analysis further enhanced the accuracy of the financial projections, demonstrating ef ective cost management. The results underscore the ef ectiveness of EVM in managing and predicting the financial and scheduling aspects of major infrastructure projects, providing valuable insights for future project planning and management.