In its latest data release, BIM reported that the adjusted annual rate of public construction expenditure was $292 million at the end of October, but the impact is clear. Jim Lynch, vice president of Autodesk’s construction product line, wrote in The Hill in the US that this kind of reward could mean enough extra money to repair the nation’s damaged bridges, with $175 billion available. ^{[Sources: 6]}

One of the main advantages of BIM is that it saves money on capital projects. When it comes to capital projects, there are many problems that owners face throughout the life cycle of a building. Experts believe that BIM can save a considerable amount of money if US public authorities develop a set of common BIM standards and require all building companies and designers who want to do business with them to use them. ^{[Sources: 4, 6]}

It not only saves the cost of building a section of a project, but also reduces costs over the life of the project. In order to minimize delays, revisions and reactive maintenance options, the use of BIM is proactive and has a better overall view of a project. BIM (Building Information Modeling) can help us to save time and money to a certain extent, but better support. Let’s look at how BIM helps us to save time, money and timeliness. ^{[Sources: 4, 8]}

Implementing BIM (Building Information Modeling) in a project helps you save time resulting in cost savings and vice versa for investment in implementation of BIM. BIM has increased the efficiency of projects from the moment designers began using their earliest renditions in the 1980s. ^{[Sources: 6, 8]}

Building Information Modeling (BIM) is an intelligent model-based process that transforms planning, design and building management for joint projects across multiple industries. Architecture, construction and engineering as a whole have adopted BIM because of its ability to streamline work, reduce project costs and improve profitability. BIM initiated the transition from 2D to 3D models, enabling a more efficient project management system from the initial design concept to the completion of the project. ^{[Sources: 11]}

If you want to build structures that are as dynamic as possible, take a closer look at the BIM construction. Building information modelling (BIM) is more than just a technology; it is a complex planning and construction process that can help architects design innovative buildings of the future. ^{[Sources: 9]}

BIM connects architecture, engineering and construction professionals (AEC) in the planning, construction and operation of buildings and infrastructure. BIM is an intelligent, model-based process for planning, planning and management of buildings. The process architects use to design and build modern buildings includes several different design tools and methods aiming to make each construction and design phase as efficient, safe and cost effective as possible. ^{[Sources: 7, 9]}

Instead of using separate drawing sets, BIM allows project members to design and build with a coherent system of computer models. A common misconception about BIM is that it is only useful during the planning and pre-construction phase. This is not pure software, but a comprehensive process for creating, managing and using all the data for a particular project. _{[Sources: 5, 7]}

What makes BIM a turning point for the construction industry is that anyone can implement it as an integrated and open system. Cooperation is a big buzzword at the moment, and its benefits are obvious to everyone in the industry. ^{[Sources: 12]}

As more and more customers need BIM jobs, team members will need BIM skills to do business. Marketing and the opportunity to promote new BIM-related services are some of the most important benefits to report. New stores and new customers for BIMs can open doors for companies in the construction sector. ^{[Sources: 10]}

On the other hand, companies that introduce BIM to new customers who do not need BIM can use their marketing capabilities to improve their offering and win the order. While more and more companies are using the BIM model, it is still rare for partners and subcontractors to participate in its application. ^{[Sources: 7, 10]}

This communication tool saved them 127,000 hours of manual labor, at a billable hourly rate of $79, or $10,058,017. The CLSB project involved 28 design teams from 10 states working together on a plan, all using BIM. ^{[Sources: 7]}

It seems that the advantages outweigh the disadvantages, but one wonders if not every company should use BIM. It is up to the other team members to recognize when owners realize how much value BIM can be used for operation and maintenance. So far, most owners believe they can rely on the value of BIM in design and construction. ^{[Sources: 7, 10]}

Although it is impossible to predict the cost or time of a project without BIM, it is no secret about the overall cost and construction time frame of the project. BIM achieves this by helping architects make better design decisions, starting with keeping to budget and optimizing manpower, materials, and other resources. Special contractors are often tasked with executing the complexity of a project, and few team members (23%) believe they have experienced the highest value of BIM. ^{[Sources: 9, 10]}

Through virtual planning and construction, BIM creates the potential to identify problems early in the construction process. The BIM technology makes it possible to visualize the entire project before construction begins. During the construction phase, reality capturing technology can help improve accuracy and optimize the process. ^{[Sources: 5, 10]}

Ask anyone who has worked on a construction site or in the manufacturing process and they will tell you how hard it is to imagine complex systems as a whole. Creating a well-designed and controlled environment can help reduce waste, increase efficiency, and reduce material and labor costs. The BIM software can create a database of manufacturing drawings for manufacturing purposes, enabling increased use of modular design technologies and prefabrication. ^{[Sources: 5, 12]}

Controlling a system or business process presents its own challenges and can lead to enormous inefficiencies. In the past, fragmented teams, poor data management and lack of communication between different disciplines have led to significant financial burdens for owners. ^{[Sources: 1, 12]}

When the groundbreaking takes place, an amazing amount of information is found and created. BIM is not only about the exchange of information, but also about the quality of that information. Valuable information can be used throughout the project life cycle to avoid errors, save time and create cost savings for owners. ^{_{[Sources: 1, 12]}}

Sources

• https://www.bimcommunity.com/news/load/1148/5-factors-to-save-time-and-cost-with-bim ⁰
• https://www.cortlanddesign.com/blog/the-benefits-of-building-information-modeling-bim/ ¹
• https://www.thenbs.com/knowledge/the-cost-saving-benefits-of-bim ²
• https://magazine.mosa.com/en-gb/how-to-save-money-on-your-building-project-with-bim ³
• https://www.landform-surveys.co.uk/news/thoughts/bim-really-save-money-capital-projects/ ⁴
• https://www.constructionexec.com/article/productivity-and-cost-saving-with-bim ⁵
• https://www.constructiondive.com/news/bim-is-cutting-construction-costs-but-there-is-no-us-standard-in-sight/512987/ ⁶
• https://prompto.com/how-to-save-millions-by-using-bim/ ⁷
• https://knowledge.autodesk.com/support/revit-products/getting-started/caas/simplecontent/content/5-factors-to-save-time-and-cost-bim.html ⁸
• https://hmcarchitects.com/news/top-5-benefits-of-bim-construction-2020-05-13/ ⁹
• https://www.thebalancesmb.com/building-information-modeling-bim-benefits-845045 ¹⁰
• https://buildingradar.com/construction-blog/building-information-modeling-for-time-and-budget-savings/ ¹¹
• https://www.viatechnik.com/bim-7-money-saving-benefits/ ¹²