BIM’s Return on Investment (ROI)

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BIM	Building Information Modeling

BIM technology is used to create a virtual model of the building. This model helps to check and eliminate any interferences that would have arised during the actual construction phase.

Pinnacle Staff

Now a days Building information modeling is used extensively in the Building & construction industry. As the technology radically upgrade the building design & construction process the productivity also increased resulting to a high ROI. ROI indicates the gains anticipated from an investment against the cost of the investment.

Here comes the question – how BIM can get ROI for an organization.

A more extensive ROI on the adoption of BIM could include profit gains from; increased billing, project quality and increased repeat business, improved communication and client presentations, links to external analysis applications, and so on.

BIM can also shift the time split between traditional design and documentation and decrease the hours spent on producing construction documents to a great extent.

In Autodesk’s recent online survey, over half the respondents experienced productivity gains of over 50% using the Revit building information modeling solution and 17% experienced productivity gains of over 100%.

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BIM Economics (CIFE, 2007)
Year	Cost ($M)	Project	BIM Cost ($)	Direct BIM Savings ($)	Net BIM Savings	BIM ROI (%)
2005	30	Ashley Overlook	5,000	(135,000)	(130,000)	2600
2006	54	Progressive Data Center	120,000	(395,000)	(232,000)	140
2006	47	Raleigh Marriott	4,288	(500,000)	(495,712)	11560
2006	16	GSU Library	10,000	(74, 120)	(64,120)	640
2006	88	Mansion on Peachtree	1,440	(15,000)	(6,850)	940
2007	47	Aquarium Hilton	90,000	(800,000)	(710,000)	780
2007	58	1515 Wynkoop	3,800	(200,000)	(196,200)	5160
2007	82	HP Data Center	20,000	(67,500)	(47,500)	240
2007	14	Savannah State	5,000	(2,000,000)	(1,995,000)	39900
2007	32	NAU Sciences Lab	1,000	(330,000)	(329,000)	32900

Due to the large data spread, it is hard to conclude a specific range for BIM ROI. In some projects, BIM savings were measured using 'real' construction phase 'direct' collision detection cost avoidance, and in other projects, savings were computed using 'planning' or 'value analysis' phase cost avoidance.

3D estimates
BIM can create an instant model based cost estimates
Save 50-80% of time to estimate

4D Schedule
Use our scheduling engine to automatically generate a detailed project schedule
Save 50-80% time to schedule

5D simulate
See how your building will be constructed virtually by analyzing building sequence, cost and resources visually.

Importance of Tracking ROI
BIM can provide wide-ranging benefits: however users who measure ROI focus primarily on areas that involve communication and personnel coordination.

Key Aspects

Improved project outcomes such as fewer RFIs and field coordination problems. Contractors and architects place the highest emphasis on this benefit as these are the areas that impact them more directly compared to others. An example is the cost savings associated with clash avoidance.

Better communication because of 3D visualization.
Contractors and owners place the highest emphasis on this benefit. Visualization is key to keeping owners informed and bringing workers in the field up to speed on construction tasks. Savings can also be identified during the planning stage.

Productivity improvement of personnel.
Architects and engineers place the highest emphasis on this benefit. Once input, BIM data is available to be used for multiple purposes, offering more opportunities to design rather than draft. Contractors can also utilize BIM onsite to adjust personnel to changing schedules due to site conditions.

Positive impact on winning projects.
Contractors and engineers place the highest emphasis on this benefit. Firms that regularly bid work need to know that BIM can give them a competitive advantage.

Lifecycle value of BIM.
Architects and engineers place the highest emphasis on this benefit. The data created during their early involvement in BIM projects can live on long after their work is complete. Energy modeling can be used during design with results analyzed after completion.

Initial cost of staff training.
Architects and engineers place the highest emphasis on this challenge. The initial costs of BIM can be onerous for some of these users, particularly for smaller firms.

Courtesy: PinnacleCAD