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In the effort of productivity management of floor plate formwork method and minimising waste in building projects, the contractor must know the level of productivity of conventional floor plate formwork method and panel floor formwork method. Aim of this research is to explore the strategy of increasing productivity by three objectives: (1) measuring productivity of the implementing floor plate formwork among two methods, (2) analysing the productivity ratio based on first objective through productivity factors 5M (Method, Material, Machine, Man Power and Money) on building projects, (3) analysing waste in the comparison between 2 methods. The research method used was a case study of a university building project in Yogyakarta. Strategy to answer the research objectives, this research was occupied productivity analysis through these two methods. The results showed that productivity of the floor panel formwork method is higher that is 595.84 m2/day and labour productivity is 36.67 m2/person per day, compared to productivity of conventional formwork method is smaller that is 385.13 m2 per day, and labour productivity is 27.03 m2/person per day, and panel floor plate formwork can minimize waste in lean construction assessment board assessment.