BIM technology offers significant advantages in managing actual cost accounting. The 5D engineering relational database—incorporating 3D entities, time, and WBS—based on BIM establishes connections between time, space, and process dimensions with cost-related data. Its data granularity reaches the component level, enabling efficient processing and analysis of actual cost information. The operational approach is detailed below:
1) Create a BIM-based actual cost database. Develop a 5D relational database (3D entity, time, process) specifically for cost data, allowing real-time input of actual cost information. This setup enables instant cost summaries, statistics, and breakdowns. The primary data is entered into the BIM database based on unit quantities, labor, and machinery pricing for each WBS unit. For projects lacking contractually determined unit prices, initial entries are based on budgeted prices, which are promptly updated once actual cost data becomes available.
2) Timely entry of real cost data. Initially, actual cost data within BIM is based on contract prices and enterprise quota consumption. As the project progresses, discrepancies between actual and quota consumption may arise and must be adjusted promptly. Monthly inventories of actual consumption are conducted to update and refine cost data. By breaking down data into smaller segments and maintaining the BIM actual cost model dynamically, the workload is significantly reduced, and data accuracy is ensured.
Material actual costs: Final adjustments should reflect actual consumption rather than financial payments. Various payment scenarios exist—materials on-site without contracts, materials delivered but unpaid, and unpaid materials. Using financial payments as the cost basis can lead to significant inaccuracies. Therefore, warehouses conduct monthly inventories and provide detailed consumption reports to cost economists, who then adjust the actual consumption for each WBS material accordingly.
Labor actual costs: Similarly, labor costs are adjusted based on actual project progress and verified workload per contract. Since a single labor team may work across multiple WBS units, costs need to be allocated and implemented per WBS according to contractual and employment details.
Mechanical turnover material costs: These are managed like material costs, with careful allocation across WBS units. Some costs may require separate approval based on specific measures.
Management fees: The finance department performs monthly inventories and submits data to cost economists, who adjust budgeted costs to reflect actual expenses. Projects with uncertain actual costs continue to use budgeted figures as a reference.
Following this plan significantly reduces process workload. Once the foundational data is established, various cost analysis reports can be generated instantly.
3) Rapid implementation of multidimensional cost analysis (time, space, WBS). By regularly (monthly or quarterly) updating and maintaining the actual cost BIM model, statistical analysis becomes straightforward. The software’s robust analytical capabilities easily accommodate diverse cost analysis requirements.
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