Refined management of engineering cost risks primarily follows the principle of “precision, accuracy, refinement, and strictness,” which enterprises apply throughout every stage of a project. This approach aims to enhance cost management at each phase by optimizing resources—be it organizational, human, technological, or economic—as well as quotas and contracts. The goal is to control the total lifecycle cost at the lowest possible level and prevent the occurrence of the “three excesses” early on. However, achieving such refined management remains challenging under current conditions due to factors like insufficient accuracy in early predictions, slow information processing, frequent changes in participant data, and frequent errors during information transmission.
With the adoption of BIM technology, information representation becomes intuitive and efficient. Construction teams can clearly convey project expectations to design units through BIM models, significantly reducing design changes during actual construction and helping control cost risks. Thanks to the visual nature of BIM models, pricing and accounting become more straightforward. Features such as 3D spatial design, architectural walkthroughs, and diverse attribute construction forms make cost reviews highly intuitive.
Using BIM models helps identify missing or unreasonable components early. When such components are detected, they can be promptly removed, and necessary additions made, effectively controlling risks related to omissions, duplications, or missing items. This process improves the accuracy of early predictions and minimizes engineering changes.
BIM’s information calculation capabilities are both fast and precise. Key functions include information storage and computation:
(1) Each component within a BIM model holds extensive information. The model can store quota details and market prices. Historical engineering data can be imported or manually input, allowing current cost plans and market prices to be saved. Ultimately, project calculation results are integrated back into the BIM model.
(2) BIM allows for real-time modifications to each component’s information, enabling dynamic updates of engineering data. Although data generated through multi-party collaboration requires frequent updates, previously validated data remains unchanged. Any alterations to participant data require mutual consent before implementation. This ensures BIM models maintain comprehensive data records throughout the entire project lifecycle—from decision-making to completion. Additionally, the models track component prices and timelines, making price fluctuations during construction transparent and facilitating effective supervision and control by owners. This addresses the problem of slow information processing.
BIM also enhances communication through improved information sharing. Traditionally, cost management involved compiling data from multiple disciplines such as architecture, structure, specialty fields, and energy-saving design during the design phase. Useful building information could only be obtained through coordination among these units. Before BIM, different design software used by various units—often guarded by strict confidentiality, especially concerning their own interests—meant communication mostly relied on 2D drawings, limiting information sharing. Moreover, communication was slow, with lengthy and complex information channels.
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