Cost and Time Analysis of the Mardhotillah Islamic Boarding School Construction Project Using the Earned Value Method

Abstract

The construction project of the Santri Dormitory at the Mardhotillah Islamic Boarding School is a construction project with a contract value of IDR 6.945 billion, which is required to be completed on time and within budget. However, during execution, discrepancies often occur between planning and actual performance in terms of cost and time, necessitating a method that can objectively and accurately measure project performance. This study aims to analyze the cost and schedule performance of the project and to determine the estimated final cost and completion time using the Earned Value Method (EVM), which integrates cost, time, and physical progress elements to evaluate project execution efficiency. The analysis results in performance indicators such as the Cost Performance Index (CPI) and Schedule Performance Index (SPI), reflecting cost efficiency and schedule accuracy, along with calculations of the Estimate at Completion (EAC) to project the total cost until project completion and Estimate Time to Complete (ETC) to predict the remaining time required. Based on the review conducted at the end of February, the project achieved a CPI of 1.151, an SPI of 1.001, an EAC of IDR 6.035 billion, and an estimated completion time (TE) of 71.89 weeks out of the planned 72 weeks, indicating that the project is running more cost-efficiently and almost exactly on schedule as planned. The application of EVM enables more data-driven decision-making in managing project costs and timelines.