5D BIM Services (Cost Estimation)
5D-BIM (fifth-dimensional building information modelling)
is used for budget tracking and cost analysis related activities. The
fifth dimension of BIM associated with 3D and 4D (Time), allows
participants to visualize the progress of their activities and related
costs overtime. The utilization of 5D-BIM technology can result in a
greater accuracy and predictability of the project's estimates,
scope changes, materials, equipment or manpower changes. 5D
BIM provides methods for extracting and analyzing costs,
evaluating scenarios and changes impacts.
Drawing on the components of the information model with the extraction of accurate costs information is what's at the
heart of 5D BIM. Considerations might include capital costs (the costs of purchasing and installing a component), its associated
running costs and the cost of renewal/replacement down the line. These calculations can be made on the basis of the data and
associated information linked to particular components within the graphical model. This information allows cost managers to
easily extrapolate the quantities of a given component on a project, applying rates to those quantities, thereby reaching an overall
cost for the development. The cost manager may have to get used to working earlier and more iteratively than in a traditional
process but the exact importance of roles to be played in overall project delivery.
