AN EVALUATION OF THE PROJECT PERFORMANCE OF CRUDE OIL TEST STATION DEVELOPMENT OF PT. CHEVRON PACIFIC INDONESIA'S AT KULIN AREA – RIAU

• Main Author: BASUKI (NIM : 29106374); Pembimbing : Ir. Rudy Bekti, MM, WASONO
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/17537
• Institution: Institut Teknologi Bandung

PT. CPI success strategy to deliver world-class performance in cost management and capital stewardship is described into more detailed plans and metrics in managing one of projects that build 2(two) Test Stations at Kulin area. Success of project is determined by controlling project cost at completion, that is driven by project schedule to complete. During the annual evaluation, it is obvious that delay has occured on construction work by contractor that would result on a much higher total expenditure of the project. The unavailability of objective and quantitative method for analyzing project performance impacts to Project <br /> <br /> <br /> Manager inability to improve the completion schedule and forecast the cost at completion, as well as budget supplement as required. The purpose of this final research in to provide recommendation of objective and quantitative evaluation method of project performance, by means of analysing relevant indicators of project management thereby project schedule will be controlled to reduce the potential of additional cost. The method used in this research is analyzing actual data on three(3) stages towards a result formulation, by evaluating schedule forecast using EVM (Earned Value Management), to estimate project total cost and budget supplement as required prior to 70% of project progress. <br /> <br /> <br /> The preliminary EVM is applied by providing physical progress measurement technique, unit cost and schedule for any task, to calculate the project progress (Earned Value) for comparison to the paln (Planned Value), and payment to Contractor (Actual Value). Project is managed <br /> <br /> <br /> through ensuring accuracy of payment equal to physical progress, Cost Performance Index (CPI) = 1, and schedule by improving Schedule Performance Index towards 1, to enable forecasting the Time Estimate at Completion (EACt) in every period. The project performance indicators of EVM will assist manager and project team to determine corrective action from time to time to avoid high additional cost that resulted by prolonged delay of project completion. Based on the success of preliminary EVM implementation in the above project, it is recommended to apply EVM method thouroughly, both by Contractor and project teamat PT. CPI, preparing dedicated team who will prepare the required infrastructure, and also empowering PT. CPI project team organization – structural and competency - to improve the effectivity of managing every projects at PT. CPI.