Review demonstrates enhanced budgeting accuracy and lifecycle cost reduction in engineering construction projects, highlighting the effectiveness of integrated BIM workflows.
Building Information Modeling (BIM) has revolutionized the architectural, engineering, and construction (AEC) industries by enhancing the efficiency and accuracy of project execution. One of the critical applications of BIM is in the realm of cost management, particularly in providing detailed and accurate estimations that help in managing finances throughout the lifecycle of a project. This research paper explores the integration of BIM technologies with cost management strategies, highlighting recent developments, methodologies, and tools that facilitate fine-tuned cost control in engineering projects. It discusses the impact of BIM on cost estimation, budgeting, and financial monitoring, providing insights into how BIM has transformed financial planning and control in construction. The paper also examines case studies where BIM-integrated strategies have led to significant cost savings and improved project outcomes.
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