Using BIM technology to address cost accounting challenges is a concern for many cost management professionals today. In this article, the editor from BIM Building Training Network shares insights on this topic.
1. Develop a BIM-Based Actual Cost Database
Create a 5D relational database incorporating 3D models, time, and process data to manage costs effectively. This system allows for timely entry of actual cost data, enabling instant cost summaries, statistics, and breakdowns. The core data input involves actual costs based on unit quantities, labor, and machinery prices for each WBS (Work Breakdown Structure) unit. For projects without a contract-established unit price, initial entries should be based on budgeted prices and updated promptly with actual costs as they become available.
2. Timely Input of Actual Cost Data into the Database
Initially, BIM actual cost data relies on contract prices and enterprise quota consumption. However, as projects progress, discrepancies between actual and quota consumption may arise, requiring timely adjustments. Conduct monthly inventories to reconcile actual consumption and update the cost database accordingly. Breaking down the data into smaller segments and maintaining the BIM model dynamically reduces workload and ensures data accuracy.
Regarding material costs, adjustments should reflect actual consumption rather than financial payments. Financial payment records can be misleading due to various scenarios, such as materials delivered without contracts, unpaid site entries, or pending payments. Relying on payment data for cost calculation may lead to significant inaccuracies.
Warehouses should perform monthly inventories and provide detailed consumption reports of received materials to cost analysts for timely adjustments of actual material usage per WBS. Similarly, labor costs should be adjusted according to actual project completion and contract-approved workloads. Since one labor team may be involved in multiple WBS units, costs must be allocated accordingly based on contract and employment details.
For mechanical equipment and turnover materials, careful allocation per WBS is necessary, with some costs requiring separate approval based on specific measures. Management fees should be reviewed monthly by the finance department and adjusted by cost analysts to reflect actual expenses. Projects with uncertain actual costs should still be accounted for using budgeted costs.
This approach significantly reduces the workload by streamlining data management and enables instant generation of various cost analysis reports once the foundational data is established.
3. Rapid Implementation of Multidimensional Cost Analysis (Time, Space, WBS)
Maintaining an updated actual cost BIM model with regular adjustments (monthly or quarterly) simplifies statistical analysis. The powerful analytical capabilities of BIM software fulfill diverse cost analysis requirements efficiently. Compared to traditional methods, BIM-based actual cost accounting offers several advantages:
- Speed: The 5D BIM cost database enhances cost summarization and analysis capabilities, enabling quick, efficient short-term cost assessments with minimal workload.
- Accuracy: Dynamic maintenance of cost data greatly improves accuracy. While minor consumption errors may persist, the overall data quality meets analytical needs. Using total quantity statistics helps eliminate cumulative errors, and accuracy improves as the project progresses. The BIM model also facilitates easy identification of projects lacking actual cost data, supports real-time inventory monitoring for each cost line, and provides reliable actual data.
- Strong Analytical Capacity: The system supports comprehensive cost reporting with diverse types and statistical conditions across multiple dimensions such as time, location, and WBS units.
Additionally, centralizing the actual cost BIM model on the enterprise headquarters’ server via the internet empowers the headquarters’ cost and finance departments to access detailed cost data for each project, down to the component level. This information symmetry between headquarters and project sites significantly strengthens overall cost control.
In summary, by following these three steps, BIM-based cost accounting challenges can be effectively resolved. We also encourage the BIM community to share further suggestions and ideas to enhance these practices.
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