In the IPD collaborative management model, the conceptual planning stage corresponds to the investment decision-making phase in traditional construction management. This stage focuses on answering the question “what to build” and requires accurate and reasonable determination of investment estimates. According to relevant data, the investment decision-making phase has the greatest impact on construction project costs, influencing between 80% and 90% of the total expenses at various project stages. The accuracy of project decisions directly affects the project’s success and significantly influences overall costs. Therefore, the investment decision-making phase is crucial for cost control and overall project cost management, highlighting the vital role of the conceptual planning stage in managing costs effectively.
During the conceptual planning stage, preliminary engineering quantity data and cost information of similar projects are gathered through BIM data models or BIM models derived from comparable projects. This information serves as valuable reference material for estimating investments in the proposed project. Additionally, it enables the comparison of multiple options, allowing selection of the most economically viable solution to maximize investment returns. The IPD team, operating within the IPD collaborative management framework, can assess risks at this stage, identify potential cost-related issues based on their expertise and experience, and address them proactively to eliminate hidden risks. Furthermore, the IPD team can establish a preliminary target cost system at this stage, enabling meticulous cost control from the outset.
— Excerpt from “Research on Construction Project Cost Management Based on BIM and IPD Collaborative Management Mode” by Yin Xiaofei
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