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5D BIM: Accuracy-Driven Cost-Planning Approach, Sophisticating Smarter Construction
5D BIM is helping the construction industry not only re-imagine supply chains and workflow but making costing and estimation, more accurate and definite.
FREMONT, CA: Building Information Modeling has entered the field of construction and is seeing wide-ranging adoption. Technological developments are changing the traditional practices in the construction industry and enabling better project and cost management. BIM, which was earlier limited to providing 3-dimensional and 4-dimensional visualizations of plans and information, is now giving way to 5D BIM. 5D BIM includes the aspect of cost estimation, thereby adding more dimensions to the previous version of BIM.
The construction industry depends on accurate calculations. The budget and bids are crucial for the construction company as well as the owners. 5D BIM is enabling precise bidding processes and accurate estimations by providing a way to quantify and estimate all the information available while carrying out a building project. The quantification of attributes leads to an information-rich model which the stakeholders can leverage.
Previously, estimators depended on 2D drawing and plans for making cost estimations. The legacy cost estimations are error-prone and inefficient. A 3-dimensional model makes it much easier to evaluate and estimate associated costs. 5D BIM offers architects, engineers, owners, and contractors with tools to monitor a lot of information in real time.
Effective estimation through 5D BIM necessitates highly skilled professionals. Sophisticated calculations need a lot of expertise. A project has to be divided into separate phases, and estimate for individual phases has to be undertaken. Estimators and quantity surveyors who have to work with 5D BIM need to know how to align estimation with 3-dimensional models and their supply chains.
5D BIM might seem costly at first because of the need to hire talent along with all the changes in the system, but in the longer run, it gives returns as well. Once, the changes fit, there are innumerable advantages. Estimators get to work in collaboration with any concerned members from the project supply chain and work in tandem with them to increase the accuracy of estimation. Any collaborative workflow can guarantee better overall project quality.
The tools of 5D BIM allow the creation of a comprehensive model on which the project can be based and controlled in real-time. An estimator can take advantage of such a model to analyze information faster and increase the efficiency and performance of a project. Understanding how it works and investing in appropriate software will help companies switch to 5D BIM holistically.