Building Information Modeling (BIM) is a 3D model-based technology that provides insight and tools for effective planning, designing, construction, and management of construction projects.
With the growing emergence of cloud-based BIM solutions, general contractors, designers, and owners can collectively identify and resolve issues in real-time, avoiding costly mistakes.
A recent study by McKinsey reported that 75% of the companies adopting BIM reported positive returns on their investments. BIM technology will facilitate more work in a competitive market while also increasing potential through a centralized project management system.
This article will explore the top advantages of cloud-based BIM technology for general contractors (GCs).
1. Win More Business
Winning new and repeat business is necessary for the general contractors to remain competitive in today's volatile market. As digital technology is gaining popularity, many owners are requesting BIM deliverables throughout all the phases of a project.
Apart from allowing GCs and preconstruction leaders to meet client expectations, BIM will enable them to go above and beyond to impress project owners. Many project owners are not construction professionals and are not accustomed to reading plans and 2D drawings. Showing up with a 3D model during the bidding process is a game-changer as a 3D model can help the clients visualize the project in a better way.
2. Reduce Rework
A unique feature of cloud-based BIM technology is that all the project information can be stored in one place and accessed from anywhere. Cloud-based BIM coordination can help companies reduce rework by engaging the entire project team in contributing to a model and identifying errors even before breaking ground on site.
This eliminates a siloed approach during project planning. The collaborative nature of cloud-based BIM coordination helps stakeholders access all the project data, allowing design issues to be fixed proactively in the model instead of in the field. This helps contractors avoid costly rework.
3. Improve Profit Margins
Implementing BIM technology provides more effective construction cost estimates, which in turn leads to improved profit margins. BIM results in a reduction in the final construction cost of a project. The application of estimators earlier in the planning stage gives more effective construction cost estimation. This model-based cost estimating is also known as 5D BIM.
Properly conditioned BIM data simplifies quantity takeoffs and cost calculation. The required quantity of materials for a work can be found out by running the numbers on an integrated quantification software. This results in accurate spending and improved profits.
BIM also helps with the management of change in design. When a new design is issued, a variance report can be run to analyze additions and deductions in the model. This allows a GC to have instant insight into quantity changes and other critical parameters, providing information on their impact on the project cost.
4. Mitigate Risk
There are several risks associated with any construction project, but the goal is to mitigate as much risk as possible. By implementing BIM software throughout the entire project lifecycle, GCs can collect data that mitigates a large amount of risk commonly associated with architecture, engineering, and construction (AEC) projects. For instance, closer collaboration with trade contractors can reduce tender risk premiums, insurance costs, overall variations, and opportunities for claims.
BIM software can also improve safety by recognizing hazards before they develop into serious problems. BIM can provide important safety gains in the construction industry, where safety risks are always a priority. It can also help prevent physical accidents by visualizing and planning site logistics in advance. Visual risk analysis and assessments can help ensure safety throughout the course of the project.
FAQs
Building Information Modeling (BIM) is a 3D model-based technology that provides insight and tools for effective planning, designing, construction, and management of construction projects.
5D BIM integrates the 3D components with time scheduling constraints of 4D, and furthermore adds cost-related elements.
BIM eliminates a siloed approach during project planning. The collaborative nature of cloud-based BIM coordination helps stakeholders access all the project data, allowing design issues to be fixed proactively in the model instead of in the field. This helps contractors avoid costly rework.
Implementing BIM technology provides more effective construction cost estimates, which in turn leads to improved profit margins.
Read More:
8 Reasons You Need Building Information Modeling (BIM) [PDF]