BIM Modeling Services for precise cost estimation and avoiding budget overshoots.
In this highly competitive and profit-minded business world, timely and on-budget completion of building projects is necessary. The property owners strictly demand to complete construction as time and budget constraint. Even though AEC industry still uses traditional design-bid-build project delivery methods, they have to suffer the risk of cost overruns. Moreover, the risk will increase, when the complexity and scale of the build project increase. Here comes the importance of BIM Modeling services that helps avoid drastic cost overruns, when used within the design-build and integrated project delivery frameworks.
BIM modeling services can facilitate rapid and accurate cost estimation during all stages of a project from design to construction. As it can generate accurate quantity and material takeoffs, the project team members can do better decision making according to the project modifications while reducing costly budget overruns.
As a result of cost estimation (BIM 5D) derived from conceptual BIM design, feasible decisions can be made early in the design and planning process. Such valuable cost estimation in the beginning stage can provide a strong foundation for the latter stages of the project. The precise cost estimations help the major stakeholders to be well informed about the financial implications of their decisions. Moreover, it facilitates smooth information-sharing and better decision making so that the project can be kept on-track and within budget.
The advantages of BIM-led cost feedback over the traditional method of cost estimation are improved accuracy, the time-saving and increased speed of estimation. Even though proper planning is required to set up BIM-based cost estimation, its advantages overshadow the effort and time spent to do so.
As BIM modeling services help to obtain detailed quantity takeoffs, the key decision makers can compare the cost impact of each alternative during each stage of the design and construction and check many what-if scenarios. In addition, the key project stakeholders can know, if any change in the cost happened from the planned budget at each stage. If they find some deviation, they can take necessary actions to correct it in the initial stage itself.
The BIM 5D driven cost estimation services enhance the entire project team by sharing budget-related inputs, performing a cost-benefit analysis of various design options and curbing time-consuming design conflicts.