The use of BIM technology during the investment decision-making stage primarily focuses on comparing and estimating investment plans. The process is illustrated in the diagram below. Initially, a BIM model database is filtered to select models similar to the proposed project. By adjusting key data, various cost indicators such as quantities, costs, and functions associated with each component can be derived. This allows for an estimated value of the proposed project to be generated.
Next, historical BIM data—comprising quantities, costs, and other relevant information—is retrieved and combined. These data sets are then extracted and modified based on actual requirements to rapidly create different scheme models. Using additional calculation software, cost information, including quantities and expenses for each scheme, can be calculated. Each scheme is visually represented in 3D, enabling an intuitive selection of the optimal option.
BIM technology facilitates the accurate preparation of investment estimates. Since BIM models contain comprehensive data of existing projects, they simplify preliminary research. This results in feasibility reports that are more scientific and credible. Additionally, because BIM data can be updated promptly, it allows for quick access to market information, making investment estimates more precise and realistic.
BIM also supports investors in comparing and selecting investment plans, providing reliable data such as costs and quantities. It can efficiently extract options that meet investment criteria, saving time during early planning stages and making the process more effective and data-driven. However, despite its significant benefits, the use of BIM in investment decision-making within construction projects remains limited, primarily due to the scarcity of comprehensive BIM databases.
Many projects are still in the experimental phase of applying BIM technology, and many companies are in the process of building their BIM databases. Nevertheless, as BIM continues to advance and its adoption grows, it is expected to play a crucial role in cost management during the investment decision-making stage of future construction projects.
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