ANALISIS FAKTOR PENYEBAB TERJADINYA COST OVERRUN DAN PENGARUHNYA TERHADAP CASH FLOW PADA PROYEK PEMBANGUNAN BENDUNGAN LAUSIMEME PAKET 1 DELI SERDANG SUMATERA UTARA

Abstract

Large-scale construction projects, such as the development of the Lausuimeme Dam Package 1 in Deli Serdang, North Sumatra, often face serious challenges, particularly related to delays and cost overruns, which directly affect the project’s cash flow. This study aims to identify the causal factors contributing to cost overruns and analyze the extent of their impact on the project’s cash flow. The research method employed is quantitative descriptive, utilizing field observations, interviews, and document reviews from the contractor’s side. The findings indicate that the factors causing cost overruns include public demonstrations due to unresolved land acquisition, fluctuations in material prices, limited labor productivity, weather conditions, and the unavailability of heavy equipment. As a result of these disturbances, the project experienced work stoppages for more than 40 days, leading to continuous indirect cost increases. The most dominant cause of the cost overrun was the unavailability of construction land. Meanwhile, the project’s delayed progress also affected its cash flow condition. The recorded cost overrun reached approximately 5.525% of the total contract value. The study concludes that managing external risks and planning an adaptive cash flow strategy are key to mitigating the impact of cost overruns and maintaining the financial stability of construction projects.