Cost Management in Industrial Construction Projects through Building Information Modelling

Abstract

This paper provides a comprehensive analysis of the potential and limitations of using building information modelling (BIM) technology in the context of construction cost management throughout the lifecycle of an investment and construction project. The study covers stages from initial conception and pre-project analysis to facility operation and decommissioning. Emphasis is placed on the challenges of early pre-project stages, such as feasibility studies and conceptual design, which are particularly important when implementing complex industrial projects. The authors highlight a key problem in this area: the lack of specialized, aggregated cost indicators (standards) for industrial construction projects adapted to the specifics of BIM, as well as a shortage of specialized software. This combination significantly reduces the accuracy and validity of initial cost estimates.

The paper systematizes the key challenges and benefits that BIM implementation can address in cost engineering at each subsequent stage of a project. The analysis revealed a systemic gap in the current regulatory and metho­dological framework, which currently does not fully regulate the processes of calculating construction cost estimates at the design stage using digital information models (DIM).

Based on the conducted research, a substantiated conclusion is reached regarding the critical need for active development of methodological and regulatory support specifically for the feasibility study and conceptual ­design stages of industrial facilities. Addressing this challenge is fundamental to achieving end-to-end digitalization of the investment and construction process, increasing the investment attractiveness of projects, and minimizing ­financial and time risks at all stages of the life cycle.