Cost Risk Analysis Method for Construction Project in Kuala Tanjung

The complexity of the project, the severe natural conditions of the oceans, the management of material resources, equipment, labor and costs are risks that must be considered in the process of implementing construction. The Multi Purpose Terminal and Supporting Facility Development Project in Kuala Tanjung in the stage of sea side construction work was experiencing delays and claims for added costs. Inaccurate project cost management will negatively impact the project implementation process. Therefore a risk analysis of project implementation costs is needed so that it can be used as a basis for risk mitigation. The objectives of this research are to identify risks and analyze cost risks in influencing project performance. By using a quantitative method of analysis conducted on 31 cost risk variables by distributing questionnaires to 43 respondents. Based on the results of the analysis and discussion by using of a statistical software program, it was found that the five most dominant risk cost variables affected the project performance of the Construction of the Multi Purpose Terminal and Supporting Facilities in Kuala Tanjung, namely: the mismatch of planning drawings and field conditions, redesign, miss projecting cost flows, material selection is not right and temporary termination of work. Recommendations for improvement of the 5 variables that affect project performance are by comprehensively anticipating tender documents and field conditions.