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.