Wow! It’s amazing to see the progress made by BIM in the recent times. However, BIM has been in picture since 1980’s but the sudden upsurge in its implementation is worth acclaiming. The BIM modeling system has gradually upgraded from 3D modeling. Apart from 3D, 4D and 5D BIM models are optimized massively in the construction industry to enhance productivity.
The benefits of its implementation are enormous. 5D BIM which is the up gradation of 4D, incorporates cost estimation factor in it. The calculation of project cost well before time is an added advantage to the contractors and project managers.
A brief description of 5D: The up gradation of modeling software leads to addition of new dimension in the model. When new features and tools are added in the software it became easy to add extra dimensions to the model. Previously when Revit was not incorporated with the features that it has now 4D and 5D were not in picture. The application of 5D in construction projects allows the cost estimators to calculate the exact cost.
Creation of an information database is very crucial in model-based cost estimation. The details regarding the cost of material, labor and equipment is stored here. To find the exact project cost this database is then collaborated with the BIM model.
Cost estimation can be done for all kinds of expenses: This model based project cost estimation enables the estimators to calculate the exact quantity takeoffs. Quantity takeoffs can be described as complete materials, and workforce required finishing a project. So when exact quantity takeoffs are measured accurate cost of the project can also be calculated.
Changes made in the model updates the cost: If in case any changes are made in the model the updated cost is automatically reflected in the 5D model. Changes are made due to many reasons like if need is felt that a slight design change can reduce the cost it is implemented in the model.
So if the exact project cost is known to the managers they can utilize the resources in the most appropriate manner possible. Cost estimation reduces the overall expenses of the project since the hardships involved are known much before.