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THE BENEFITS OF 5D BIM COST ESTIMATION HAVE BEEN
HIGHLY RECOGNIZED IN THE AEC INDUSTRY
91 7350255855 www.nibt.education
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ABSTRACT
With The Adoption Of Level 3 BIM, Cost Estimation
Can Be Adopted Through 5D This Is Possible By
Linking The 3D Model To An EstimationLibrary Or
Database 5D Estimation Helps Project
Stakeholders Understand The Project Beer, And
Collaborate E?ciently This Preconstruction
Estimation Data Is Used By Designers, Engineers,
And Other Project Team Members To Make Informed
Decisions In Terms Of Project Planning, Cost
Management,Purchase, Quality, Etc.
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INTRODUCTION
The bene?ts of 5D BIM cost estimation have been
highly recognized in the AEC industry It is
undoubtedly helping project owners and
stakeholders leverage faster project delivery,
minimize cost, enhance productivity, and project
quality The integration of design and
cost-estimation in preconstruction provides
deeper analysis and project insight The
e?ective use and transference of data across the
various project lifecycle creates a robust
plavorm to avoid project rework, data loss, etc
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It also helps project stakeholders build beer
bidding proposals, e?ciently handle project
execution, and ensure positive project
delivery Robust estimating soware can augment
the complete process through data transparency,
mitigate errors risks, etc. All this and more
to ensure owners and project stakeholders can
leverage beer ROI
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ADVANTAGES OF A FULLY CONNECTED BIM WORKFLOW
BASEDON 5D COST ESTIMATION
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Helps Estimators Work More E?ciently
Leverage Unprecedented Levels Of Information To
Enhance Collaboration Enhance Overall Project
Performance Through Design Construction Linking
Beer Project Visualization Based On Accurate
Estimation Augment Quanti?cation Of Modeled
Materials Find Optimal Accuracy And Solution In
Calculating Costs And Planning The Highly Visual
Process Makes It Easier For Estimators To
Understand New Processes And Technology Generate
Greater Cost Esti0m1ates At Quick Rates Create
Deliver Precise Data For Planning And Field
Implementation
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THIS IS ACHIE0V2 ED T0H1ROUGH
ALONG THESE LINES, ACCURATE ESTIMATION THROUGH
HIGH-END SOFTWARE HELPS CREATE SEAMLESS
WORKFLOWS ACROSS ALL THE PROJECT LIFECYCLES
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Validating data
Template building
Data filters
Built-in cost libraries
Information reuse
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HOW DOES 5D COST ESTIMATION WORK?
Build Automated Estimations Based On Access From
3D Models Accuracy Eliminates Erro0rs3And
Rework Increase In Overall Accuracy Based On
Automated Data Processing Leverage Historical
Cost Data Based On 3D Takeo?s Connect Data Across
Various Systems For Project Planning, Cost
Management, Etc. Cost Management Tools Can Be
Used To Verify 5D Estimation Data Based On
Comparisons Between Budgeted Data And The Actual
Amount Gain Greater Insight Into The Project
Through Accurate 5D Cost Estimation On-Site
Personnel Has The Ability To Leverage Building
Strategies And Gain Insights Through Real-Time
Information On Materials, Costs, Etc.
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UNDERSTANDING DESIGN AND CONSTRUCTION AS AN
INTEGRATED SYSTEM
03 It Is Important To Identify A Very Strong
Relationship Between Design Construction, It
Can Be Best Viewed As An Integrated System That
Said, The Design Creates A Highly Detailed
Description Of A Building, Facility,
Infrastructure, Etc Based On Models, Plans,
Etc. Whereas, Construction Planning Involves
The Identi?cation Of Activities And Resources To
Make These Projects A Reality
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VARIOUS CHARACTERISTICS NEED TO BE CONSIDERED
BASED ON DESIGN AND CONSTRUCTION
Every building, infrastructure, or facility is
unique and requires custom designi0ng3 Every
project takes a speci?c time to complete Design
construction for a speci?c project need to
satisfy certain conditions The service life or
sustainability of a building, infrastructure, or
facility is long Project complexities can cause
changes in designs during the construction
phase The integration of 5D cost-estimation at
the design and construction phase creates a
robust design and construction work?ow and
mitigates most of the challenges based on
rework, budget and time overruns, etc.
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THE COST ESTIMATION WORKFLOW
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Prepare a plan to begin the estimation
Create an estimate
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Enhance the estimation technique
Manage your estimates
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PREPARE A PLAN TO BEGIN THE ESTIMATION

• The Primary Objective Of The Project Team Would
  Be SeGng A De?niti0on3Through A Broad Vision
• Identify Resources To Begin The Estimation
  Identify Any Kind Of Constraint
• Build A Project Charter Or Initiation Document
• Identify People For Budget Management Approval

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PREPARE AN ESTIMATE
Use Various Cost Estimation Techniques To Create
And Maintain A Budg0e3t Leverage Policies, Market
Conditions, Templates, Etc., To Build An Estimate
Build Estimates Based On Parametric And
Analogous Estimation Use WBS Or Work Breakdown
Structure Using The Scope And Duration Cost
Baselines Are The Approved Time-Phased Budget And
Will Be Leveraged By The Project Manager To
Manage The Complete Estimation Process
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THE COST ESTIMATION WORKFLOW
- Manage your estimate
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The Project Manager Is Responsible To Oversee
Various Phases Of The Cost Estimation
Process Speci?c Cost Estimates Can Be Factored
In The Project Execution Phase Based On Speci?c
Costs From Vendors, Required Resources,
Etc. This Helps Project Managers Convey
Transparent Information And Manage Beer
Stakeholder Communication
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VARIOUS COST ESTIMATION TECHNIQUES
5D Cost Estimation can be achieved through
various techniques viz.
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Bottom-Up Estimation
Analogous Estimation
Statistical Estimation
Determine Estimation Based On Individual Work Or
Tasks
Use Historical Data To Determine Project Costs
In The Early Stages Of The Project
Determine Estimation Based On Parametric
Calculations
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Three-Point Estimation
Reserve Analysis
Cost of Quality
Determine Estimation Based On Reserves That Need
To
Determine Estimation Determine Estimation Based
On Expenses
Based On 3 Techniques Viz.Optimistic, Duringthe
Project To Prevent Failures And Expenses Done
Aer The Project To
Most Likely, And Pessimistic
Be Kept Aside Or Allocated
Focus On Failures
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CONCLUSION
Using 5D Cost Estimation Across The Entire
Project Lifecycle, Estimators Or Estimation
Companies Can Save On Valuable Time And
Cost The BIM Estimation Advantage Lets
Stakeholders View The Model Along With The
Necessary Schedules This Ensures All The Teams
Get A Clear Grasp Of How Changes Can A?ect The
Cost Cycle And Vice-Versa Based On Invaluable
Information BIM Estimation From Design To
Construction Always Works Towards Owner And
Stakeholder Advantage