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BIM Q&A: Using BIM for Cost Estimation and Boosting Project Cost Calculation Efficiency

From a detailed perspective, BIM technology significantly improves cost calculation efficiency and enhances the informatization level of engineering cost management.

BIM Q&A | Can BIM be used for cost estimation? How can BIM improve the computational efficiency of project cost work?

Firstly, BIM enables deduction calculations based on the physical space occupied by digital components. This allows for automatic quantity output, drastically reducing the time spent on manual or spreadsheet-based statistics, basic quantity calculations, and other repetitive tasks.

Secondly, BIM can simulate the construction process and optimize resource allocation for labor and machinery. By integrating time data with the automatically calculated quantities in the BIM model, it becomes possible to calculate completed quantities for any given period according to actual project progress. Multiplying these quantities by the contract unit prices generates the project cost for that timeframe, facilitating effective cost management throughout construction. Adjusting investment schedules for funds and resources based on dynamic engineering costs ensures that work is planned efficiently, meeting cost management goals during the construction phase.

Thirdly, BIM’s visualization and clash detection features help minimize avoidable engineering changes from the outset. When changes occur, updating the data for affected components automatically recalculates all related quantities, reducing the need for repetitive quantity assessments. Limiting simultaneous changes lowers the likelihood of contract price adjustments and helps control cost variation risks.

Finally, BIM provides a convenient and accurate way to record engineering indicators and metrics. Historical cost data is a crucial resource for estimates and budgeting. Traditionally, cost indicators were stored physically and were difficult to access. Using electronic BIM models enables precise analysis and calculation of these indicators, creating electronic records that are easy to access, store, and share.

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