How BIM & Blockchain Helps Maintain Estimated Costs of Construction Projects
Building construction and infrastructure development projects are always crucial as far as cost estimations are concerned as there are numerous governing factors that decide the overall spending. These governing factors include planning, delivering construction material on site, managing inconsistencies in drawings and actual site work, managing labor and many more accounts for last minute extra spending in order to meet the stipulated deadlines.
Popularity of BIM impacts interdependencies of constructing industry
Additionally, construction is a big task; it involvement of multiple divisions and their interdependence is inevitable. All the activities of structural design engineers, architects, contractors, sub-contractors, fabricators, and suppliers are interdependent and because of this reason, construction industry project costs vary highly from planned budgets. And the majority of cost overruns originate from not having adequate or latest design/planning information. If this is eliminated completely – which BIM is struggling with – costs can be managed greatly.
With widespread awareness of BIM and federal government taking a keen interest in implementing BIM across the construction projects, controlling overhead costs have become significantly easier. 4D and 5D BIM modeling services with BIM champions, experts, and BIM Outsourcing Companies play a significant role in estimating costs and planning logistics efficiently.
Resolving disputes construction management with Blockchain technology
Although BIM is a platform popular in the construction industry, there still exist several inconsistencies because we haven’t been able to integrate BIM fully across the projects. BIM Level 2 implementation has been a difficult task during 2016, and yet there are no significant results; expecting a fully collaborated BIM model with BIM level 3 is a farfetched idea. Such lacking coordination is deeply connected with expenditure.
But the recent spotlight gained by Blockchain technology seems to have opened new avenues for construction firms. Smart contracting with and digital protocol built with as-built 3D BIM modeling ties every node and loose ends of construction projects with necessary information and can be sufficient for signing even legal documents.
Blockchain technology invites better BIM workflows
Thus, the core idea of BIM level 3 can be harnessed by bringing Blockchain with BIM. The decentralized workflow of Blockchain can essentially eliminate the resistance that is faced in common data environment of BIM. When such barriers are overcome, the interdependencies of different teams working on the construction project can be managed.
How is Blockchain beneficial for BIM?
When construction projects are large and there is a BIM modeling company involved in the project, chances are high that designing and BIM modeling work is shared over cloud storage. It increases the risks of data leaks and intellectual theft. However, today, with Blockchain technology’s decentralized architecture of digital data storage, data can be accessed easily with reduced threats.
Sub-contractors can efficiently make the changes and check the changes made by design engineers and architects at the other end. This essentially improves the communication channel between the two parties and decisions can be taken more efficiently. Such collaboration makes 5D BIM model, prepared by BIM managers to be more efficient.
BIM manages costs efficiently in collaboration with Blockchain
As against to this, with BIM level 2 only that brings virtual construction and design, the connectivity of manufacturers’ content with BIM models is still manual and at times also not very efficient which adds to costs. Blockchain could be the key to unlock BIM Level 3 implementation.
BIM level 3 can help real-time data transfer promptly with data connectivity to BIM as-built models and IoT devices can actually improve decision making efficiency for cost planning as per the latest design changes. With level 3, there is a cross-enterprise communication, which can develop clarity in communication between fabricators, manufacturers, sub-contractors, engineers, architects, and surveyors.
When communication is in place, as stated above, cost overruns can be eliminated. Exact logistics, materials dispatch to site from the warehouse, quantity of material, parts in case of modular fabrication, avoiding reworks, etc. remain well planned in advance and changes whatsoever can be known beforehand. Yet, 5D BIM is the sole cost planner for big construction projects today.
Blockchain is a very new technology, and yet to be tested. 5D BIM alone has the potential to predict an accurate estimation of cost with only slight variation than the real situation due to unavoidable factor as mentioned earlier. Until we have a tried and tested solution of BIM with Blockchain, construction industry relies heavily on BIM and the day Blockchain enters the industry, construction companies without BIM will soon be out of practice. So either way, getting BIM compliant is a smart way.
We, at Hitech BIM services help construction industry to get BIM-ready right from the inception of designs through construction and beyond. Reach out to us at email@example.com with your detail requirements and our BIM managers will get in touch with you.