Enhancing Cost Management with Building Information Modeling (BIM)

Building Information Modeling (BIM) is a powerful tool for enhancing cost management in construction projects. This abstract explores its application and highlights benefits such as improved accuracy, efficiency, and collaboration. BIM enables digital representation of a project, including geometry, spatial relationships, and data attributes. Throughout the project lifecycle, stakeholders can leverage BIM for cost estimation, tracking, analyzing cost-saving measures, and optimizing budgets. Key aspects include integrating cost-related data, using 4D and 5D modeling for cost visualization and analysis, and fostering collaborative cost communication among team members. Challenges in adopting BIM for cost management, such as data interoperability, skill requirements, and organizational change management [1], are also discussed. BIM offers a promising approach for more accurate cost estimation, proactive cost control, and improved financial outcomes in construction projects. A case study demonstrates the problem-solving potential of BIM.