BIM & the 5D Project Cost Manager

AbstractThis paper examines the global issues related to the role of project cost management professionals in the implementation and evolution of Building Information Modeling (BIM) in the construction industry. The paper is based on a review of current industry trends and issues with BIM implementation and detailed interviews with quantity surveying firms in Australia. BIM involves more than just 3D modelling and is also commonly defined in further dimensions such as 4D (time), 5D (cost) and even 6D (as-built operation). 4D links information and data in the 3D object model with project programming and scheduling data and facilitates the simulation analysis of construction activities. 5D integrates all of this information with cost data such as quantities, schedules and prices. 6D represents the as-built model that can then be used during the operational stages of the facility. This paper explores the importance for project cost management professionals to be integrally involved across all project phases and to embrace the 5th dimension to become key players in the BIM environment – the ‘5D Project Cost Manager’. The literature review and industry interviews will examine the issues associated with this and will identify leading edge best practices in the field by professional project cost management firms. The paper concludes with the findings that the greatest value with the modern day project cost manager lies in their ability to be 5D literate and to be able to utilise electronic models to provide detailed 5D estimates and living cost plans in real time