Construction project cost management involves controlling and managing expenses throughout the entire construction process. This includes stages such as feasibility studies, investment decision-making, design, bidding, construction, final acceptance, and post-project evaluation. It employs technical, economic, legal, and other methods at various levels to forecast, optimize, control, analyze, and supervise costs, aiming to achieve optimal resource allocation and maximize investment returns. Addressing the limitations of traditional cost management, we examine the application value of Building Information Modeling (BIM) in cost management by focusing on the fundamental elements of cost formation. This analysis is conducted from both micro and macro perspectives.
Micro Level
At the micro level, the benefits of BIM in cost management lie in its ability to process project quantity information quickly and accurately. This capability revolutionizes traditional approaches by enhancing efficiency and transforming conventional work methods.
Macro Level
On a macro scale, applying BIM technology throughout the entire price management process goes beyond simply adopting new concepts or tools. BIM-based lifecycle management (BLM) eliminates barriers to horizontal and vertical information sharing and collaboration in construction project cost management. This advancement ushers in an era of real-time, dynamic, and precise cost control.
BIM enhances all stakeholders’ ability to manage costs effectively while simultaneously reducing expenses across the board. Additionally, integrating BIM with internet technologies has significantly increased transparency in the construction market, helping to standardize industry practices and reduce corruption during bidding and procurement.
This integration also accelerates the transformation of China’s construction sector from extensive to intensive development. It boosts productivity, encourages industry consolidation, supports refined management practices, reduces waste, promotes low-carbon construction, and aligns with the broader trends of China’s economic growth.
Must log in before commenting!
Sign Up