The aim of this research is to analyze the feasibility of investing in North Surabaya Hospital, Bulak District, Surabaya City with the parameters Net Present Value, Internal Rate of Return, Benefit Cost Ratio (BCR) and Payback Period. This research focuses on the North Surabaya Hospital which was built by the Surabaya City Government Health Service with a budget for 2026. The research instruments used were interview guidelines and observation sheets, with data collection procedures via location with related parties in the construction of the hospital, site observation, as well as documentation that includes primary and secondary data. Based on investment analysis of North Surabaya Hospital and evaluation of sensitivity to operational costs and potential income, the conclusion obtained is: Alternative 1 is feasible because it produces an NPV value of Rp. 211,014,227,005, IRR of 9.85%, BCR of 1.23 and PP of 7.69 years, but will be sensitive to the point that it is not feasible if there is an increase in hospital operational costs above 2.05% or a decrease in hospital service levy rates above 1.39% . Alternative 2 is not feasible because it produces an NPV value of Rp. 28,416,192,984, IRR of 6.57%, BCR of 1.14 and PP of 8.34 years, but it will be sensitive and feasible if there is a decrease in hospital operational costs above 7.73% or an increase in hospital service levy rates above 5.59%. Alternative 3 is not feasible because it produces an NPV value of Rp. 66,444,241,124, IRR of 7.30%, BCR of 1.16 and PP of 8.20 years, but it will be sensitive and feasible if there is a decrease in hospital operational costs above 5.7% or an increase in hospital service levy rates above 4.08%. Alternative 4 is feasible because it produces an NPV value of Rp. 166,294,504,181, IRR of 9.26%, BCR of 1.20 and PP of 7.70 years, but it will be sensitive to the point of being unfeasible if there is an increase in hospital operational costs above 0.15% or a decrease in hospital service levy rates above 0.10%.

Delays in project implementation are caused by a lack of good control so that it affects the cost and completion time. The purpose of the study is to determine or predict how much a project will cost at the time of implementation and to determine the effectiveness of project control using the Earned Value Method. Aspects of project implementation time in weeks 2,4,5,9,11,13,16,17, 18,20,21,24 are slower than the planned schedule, this is indicated from the Schedule Variant (SV) indicator. While the performance of the project implementation time in week 3,6,7,8,10,12,14,15,19,22 is faster than the plan schedule, this is indicated by the Schedule Variant (SV) is positive. While the cost performance aspects of project implementation from week 6,9,11,13,17,19,22,23 incurred costs greater than the plan cost, this is indicated from the Cost Variant (CV) indicator is negative. Whereas in weeks 7,8,10,12,14,15,16,18,20,21, 24 incurred costs less than the plan cost, this is indicated by a positive Cost Variance (CV) indicator. The calculation results obtained from the effectiveness value of 1.603 for controlling the cost and time of the project using the Earned Value Method. In other words, the results of the effectiveness value greater than 1 (one) can be said to control the construction project of the Situbondo Regency bagor bridge very effectively using the Earned Value method.