The Effect of Building Information Modeling on the Accuracy of Estimates

Building Information Modeling (BIM) is motivating an extraordinary shift in the way the construction industry functions. This fundamental change involves using digital modeling software to more effectively design, build and manage projects. One of the implications of using BIM is that project cost and time estimates can become more accurate and precise, by encouraging the sharing of project information throughout the project lifecycle as well as deeper collaboration between contractor and the design team to integrate valuable fabrication, construction and operations expertise into the estimate. This paper examines the effect that BIM can have on the accuracy of project estimates in terms of time and cost. An analytical approach is taken to quantify the potential increase in accuracy. The paper discusses the effect that an increase in accuracy may have on the bidding practices as well and provides numerical examples of the proposed analysis from a classroom experiment where estimated were prepared manually and with the assistance of a commercial available BIM tool.