With the adoption of Level 3 BIM, cost estimation can be adopted through 5D. This is possible by linking the 3D model to an estimation library or database. 5D Estimation helps project stakeholders understand the project better, and collaborate efficiently. This preconstruction estimation data is used by designers, engineers, and other project team members to make informed decisions in terms of project planning, cost management, purchase, quality, etc.
The benefits of 5D BIM cost estimation have been highly recognized in the AEC industry. It is undoubtedly helping project owners and stakeholders leverage faster project delivery, minimize cost, enhance productivity, and project quality.
The integration of design and cost-estimation in preconstruction provides deeper analysis and project insight. The effective use and transference of data across the various project lifecycle creates a robust platform to avoid project rework, data loss, etc.
It also helps project stakeholders build better bidding proposals, efficiently handle project execution, and ensure positive project delivery.
Robust estimating software can augment the complete process through data transparency, mitigate errors & risks, etc. All this and more to ensure owners and project stakeholders can leverage better ROI.
Advantages of a fully connected BIM workflow based on 5D cost estimation
▪ Helps estimators work more efficiently
▪ Leverage unprecedented levels of information to enhance collaboration
▪ Enhance overall project performance through design & construction linking
▪ Better project visualization based on accurate estimation
▪ Augment quantification of modeled materials
▪ Find optimal accuracy and solution in calculating costs and planning
▪ The highly visual process makes it easier for estimators to understand new processes and technology
▪ Generate greater cost estimates at quick rates
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