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Reaching Target Project Costs with 5D BIM Estimating

Posted by Patrick Krzyzosiak on Thu, Mar 05, 2015 @ 14:03 PM

Reaching project target costs is a whole lot easier with 5D model-based cost estimating. 5D model-based cost estimating links and maps model elements and associated construction quantities to develop a project cost plan. 4D construction sequencing brings the element of time or schedule to the 3D BIM model; 5D brings the element of cost. This cost estimating method is an effective way to work together with the owner and project stakeholders, leveraging a wealth of information and experience from the model to the project in a visually communicative way. Use of 5D model-based cost estimating may still be a fairly new practice for some people. However, I am pleased to report that we’ve had great success using model-based estimating over the past 10 years. This article aims to illustrate how 5D model-based cost estimating can be successfully applied on your next project.

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Topics: Cost Estimating, Sequencing and Phasing, Virtual Design and Construction (VDC), Best Practice