scholarly journals Unbundling Transaction Cost Components in Building Information Modeling Adoption Procurement

2019 ◽  
Vol 8 (2S9) ◽  
pp. 333-338
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Building Information Modeling ◽  
Transaction Cost Economics ◽  
Project Performance ◽  
Information Modeling ◽  
Construction Disputes ◽  
Building Information ◽  
The Cost ◽  
Cost Components

Building information modeling (BIM) adoption is an emerging trend in Malaysian construction industry. BIM is expected to bring better project performance and address the various construction dilemmas stemmed from construction disputes. Construction disputes has been associated with high transaction costs, which subsequently increase overall project costs. Hence, BIM has been adopted in project procurement to address construction disputes for better project performance. Studying the transaction costs in BIM adoption procurement is deemed beneficial particularly when the ambiguity of a project performance is high. This is especially true when the number of projects adopting BIM is still comparatively small to ascertain the benefits of BIM. Transaction cost economics (TCE) is a theory and methodology for relatively evaluating the cost-effectiveness of institutional arrangements in managing transaction, and therefore, studying TCE in BIM adoption procurement can be beneficial. Such an effort can improve the understanding of the benefits of the transactions made. Previous research has managed to conclude that the traditional procurement resulted in higher transaction costs compared to the design-and-build procurement. Hence, this study attempts to identify the transaction costs in BIM adoption procurement. A systematic literature review was performed to investigate the TCE in procurement to profile the transaction costs and its components in BIM adoption procurement. The outcome of the systematic structured literature is a conceptual framework combining the “RIBA Plan of Work with BIM Overlay” developed by RICS with a refined transaction cost components categorisation. The framework is further classified into pre-contract and post-contract transaction cost components specifying the fixed and variable components, and either visible or hidden. It is believed that the unbundling of the components of transaction cost in BIM adoption procurement could provide a solid foundation in developing a guideline for industry players to better understand, apply, and manage BIM adoption procurement

An Assessment of the Accuracy of Cost Estimation Using Building Information Modeling in Design Process

2013 ◽  
Vol 291-294 ◽  
pp. 2822-2825 ◽  
Author(s):  
Gwang Hee Kim ◽  
Hyun Young Park ◽  
Jae Min Shin
Keyword(s):  
Design Process ◽  
Cost Estimation ◽  
Building Information Modeling ◽  
Information Modeling ◽  
Design Phase ◽  
Cost Estimating ◽  
Construction Market ◽  
Building Information ◽  
Causes Of Errors ◽  
The Cost

The completion of the design drawing has not been credited in the construction market in Korea, and the modeling information of the design phase cannot be effectively used in an estimation process. Therefore, the objective of this study is to assess the cost estimating accuracy of a BIM tool in the design process to verify its applicability. Modeling was done for a building in an actual project to evaluate the applicability, from which the causes of errors of quantity take-off were derived.

scholarly journals GEOMETRY AND INFORMATION FOR THE PRESERVATION OF A ROMAN MOSAIC THROUGH A HBIM APPROACH

2021 ◽  
Vol VIII-M-1-2021 ◽  
pp. 73-79
Author(s):  
D. Del Pozzo ◽  
B. Scala ◽  
A. Adami
Keyword(s):  
Building Information Modeling ◽  
Archaeological Site ◽  
Good Health ◽  
Interesting Case ◽  
Information Modeling ◽  
Design Phase ◽  
Historical Building ◽  
Roof Structure ◽  
Building Information ◽  
The Cost

Abstract. The archaeological site is a mine of data and information that helps to deepen the knowledge of its origin, history, and structure. This virtuous approach becomes even more effective when these data, properly processed and structured, form the basis for a project of conservation and enhancement of the cultural asset.The Roman mosaics dug in Castiglione delle Stiviere in 1995 represent an interesting case in which all the archaeological information, made available by the Superintendence, was used through an HBIM (Historical Building Information Modeling) approach for the conservation project. The Stratigraphic Units (US) of the findings have identified the strategy for the geometric and informative modeling of the BIM (Building Information Modeling) model and have also been exploited in the design phase for the project of the new roof structure and especially for the cost analysis. The structuring of the data by stratigraphic units was also used in the drafting of the preventive and planned conservation, necessary to enhance and prolong the state of good health of the property.This work has been developed in the internship activity within a training course on HBIM, in collaboration with the Diocese of Mantua, owner of the property.

scholarly journals An overview of the Necessities, Challenges & Outcomes of Building Information Modeling (BIM) Framework used in Project Management

2020 ◽  
Vol 6 (3) ◽  
pp. 873-883
Author(s):  
Shahid Iqbal ◽  
Muhammad Saad ◽  
Masab -Bin -Shahid ◽  
Wajeeha Batool
Keyword(s):  
Developing Countries ◽  
Life Cycle ◽  
Project Management ◽  
Research Study ◽  
Building Information Modeling ◽  
Effective Communication ◽  
Information Modeling ◽  
Management Support ◽  
Building Information ◽  
The Cost

Building Information Modeling (BIM) is gaining attention worldwide due to its assistances during the entire building’s construction life cycle covering all phases of project from commencement to accomplishment. BIM integrates different disciplines by effective communication, analyzes the project systems for constructability, estimates the cost and time of projects at any time using quantity takeoffs. Notwithstanding that fact Pakistan like other developing countries is lagging in Building Information Modeling (BIM) adoption. To facilitate the adoption of Building Information Modeling (BIM) in the AEC industry, the purpose of this research study is to identify the important factors for BIM adoption among construction engineers of Pakistan to carry out the awareness. It is found statistically that Building Information Modeling (BIM) capability is most important factors for the adoption of BIM among the construction engineers in Pakistan having the factors of motivation and management support which positively effect on BIM adoption in Pakistan. The trainings are very important to increase the BIM adoption in the industry.

scholarly journals Transaction Cost Economics Identification in Malaysian Housing Development: A Preliminary Review

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Farah Kamilah Zainuddin ◽  
◽  
Muzani Mustapa ◽  
Fara Diva Mustapa ◽  
◽  
...  
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Best Practice ◽  
Development Process ◽  
Transaction Cost Economics ◽  
Housing Prices ◽  
Preliminary Finding ◽  
Housing Development ◽  
Preliminary Review ◽  
Cost Components

Shelter, albeit being one of the crucial physiological needs in Maslow’s Hierarchy of Needs, is still considered as luxury needs as many people still struggle to afford a house especially in Malaysia. The issue stemmed from the mismatch between the affordability level and the housing prices. Many research delved from the demand and supply perspective to find the root cause, however, the problem still prevails. Hence, this research aimed to study the aforementioned issue from the transaction cost economics (TCE)’s perspective. TCE provides a platform to allow parties to deduce the invisible costs from transaction of activities. This can be done by determining the effectiveness of each transaction profile by enhancing the value between the two transactions, hence, lower the costs. This paper outlined a preliminary finding on TCE’s identification in typical housing development process based on RIBA Plan of Work 2013 process protocol. RIBA Plan of Work 2013 was chosen to provide a standard platform of measurement to ensure consistency in activities listed in the pre-contract and post-contract in typical housing development process. Interviews were conducted with purposive sampling with individuals working directly with housing development. The respondents were asked to verify the list of pre-determined TCEs by indicating whether those activities constitute under the TCEs components and whether activities identified as redundant or inefficient can be removed or enhanced. Analysis conducted using the frequency analysis managed to determine the most important and also the most redundant transaction cost components in a typical housing development. The findings revealed an interesting fact where the number of transaction cost components at both pre and post-contract were higher than the anticipated number attained from literature review. Higher number of identified transaction cost components indicates higher transaction cost in housing development. This further suggested that certain activities which were found redundant or inefficient can be either removed or enhanced to lower the transaction costs. The research findings provide a useful platform to further verify the TCE in housing development. The components will be quantified to ultimately develop a framework for a best practice transaction cost economics model to apprehend unaffordable housing issues. Hence, it is noteworthy that combining TCE and Lean Management theory will enhance this on-going research on identification and quantification of the transaction costs within the housing development to address matters that cause high transaction costs that subsequently increases the housing prices.

Building information modeling utilization for optimizing milling quantity and hot mix asphalt pavement overlay quality

2016 ◽  
Vol 43 (10) ◽  
pp. 886-896 ◽  
Author(s):  
Abraham Bae ◽  
David Lee ◽  
ByoungYck Park
Keyword(s):  
Building Information Modeling ◽  
Hot Mix Asphalt ◽  
Concrete Slab ◽  
Asphalt Pavement ◽  
Information Modeling ◽  
Coefficients Of Variation ◽  
Building Information ◽  
Pavement Overlay ◽  
Simulation Results ◽  
The Cost

An approach to a practice paving technique using building information modeling (BIM) was developed. When planning hot mix asphalt (HMA) overlay on a concrete slab, in-advance paving simulations can help to preemptively evaluate pavement quality, such as HMA thickness, and prevent excessive HMA quantity. The BIM technique has the capabilities of ‘in-advance simulation’, ‘3-D visualization’, ‘interference identification’, and ‘quantification’. Building information modeling could be successfully implemented to optimize milling quantity and improve HMA pavement quality in an actual paving project. Based on the established BIM model, alternative paving levels were derived and paving sequences were simulated. Through 3-D visualized images, locations where HMA thickness was inadequate could be effectively identified. Quantified information for simulation results enabled optimization of milling and paving options. Milling was selectively conducted for the identified undulations. The cost was reduced by approximately 12%. Paving thickness and density had coefficients of variation (CV) of approximately 15% and 0.2%, respectively.

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