5D Building Information Modeling refers to the integration of cost related information along with the time into the 3D BIM model. With 5D Cost Integration we can calculate the overall cost incurred during each phase of construction. The 5D information sharing starts with the Full Collaboration as per U.K BIM Level 2.
In the construction cycle, quantity and cost estimation can be considered as one of the most difficult, time consuming and error prone activity. The BIM process has brought a significant change by quickly extracting the quantities and cost from a 3D model.
How Construction Companies benefit from 5D BIM Services?
When the cost dimension is linked to the 3D BIM model, any changes made into design are immediately reflected on the total budget. This helps the architects, engineers and contractors to make changes in the design according to the budget and also plan the construction according to the budget of the owner.
Following are the Advantages of Implementing 5D BIM Services:
- Total cost can be estimated in the pre-construction stage
- Design changes can be made according to the budget
- Helps to find the potential spots in a building which add up additional cost
- Predict how change in design affects cost and schedule of a project
- Provides risk analysis for a project and accurate cash flow forecast
- Pre-plan crew composition, labor productivity rates and Sub KPl’s
With the effective implementation of 5D BIM services, the Architects, Engineers and Contractors can work collaboratively to achieve quality, timely delivery and cost efficiency for a project.
The cost data connected to the project 3d model is constantly updated as the project progress. This means that the cost data is continuously evolved, rather than defining a proportional value at the start of the project. This brings the opportunity for the project managers and costing department to hold a control over the project and keep running the project on the agreed client budget.
Including the cost into the planning process can bring significant change in logistics process like how and when the materials has to be ordered. This can prevent the ordering of items which are sitting unused in site for long periods and also cost managers can submit orders for long wait items in advance.