Is BIM worth doing?
A series of independent reports provide evidence that BIM is indeed worth implementing, and true to the idiom, is worth implementing well.
Return on Investment (ROI)
Clear evidence of this has been available for some time, with the 2014 SmartMarket Report “The Business Value of BIM for Construction in Major Global Markets” finding 80% of contractors in European markets report a positive return on their investment (ROI) in Building Information Modelling (BIM). Good news, the vast majority of businesses are now reaping the benefits of a positive ROI on BIM.
Returns by contractors were significant, with 48% achieving positive ROI up to 25%, and a further 32% reporting very positive gains over 25%.
“the vast majority of businesses are now enjoying the benefits of a positive ROI on BIM.”
Increasing your chances of a positive ROI
The proportion of contracting organisations reporting positive returns on their investment in BIM was substantially higher for those making a greater commitment. Whilst the majority of businesses with low levels of engagement still reported positive returns, the proportion of those doing so with deeper BIM commitment was substantially higher. BIM engagement is clearly identified as a key driver of benefits and ROI.
Achieving the highest levels of ROI
Importantly, the feedback from contractors also revealed that the greatest returns were enjoyed by the organisations doing the most to drive though their engagement with information management. Half of the contractors reporting very positive ROI – in excess of 25% on their investment in BIM – were those at the highest levels of BIM engagement. A notable difference when compared to the 11% experiencing the same level of return from low levels of BIM engagement. Engaged businesses are almost 5 times as likely to experience the highest levels of ROI.
“Engaged businesses are almost 5 times as likely to experience the highest levels of ROI.”
Realising the practical and financial benefits of BIM
Contractors report the reduction of errors and omissions as the leading benefit of BIM. Reducing rework and the unrecoverable costs involved, also rated in the top 5 of contractor benefits.
Again, the greatest return is enjoyed by those with the highest level of engagement. Significantly reducing costly rework on projects is recognised as a measurable benefit by 40% of contractors with high BIM engagement, compared to only 28% of those with low levels.
“BIM engagement is clearly identified as a key driver of benefits and ROI”.
Further weight has been added by the recent investigation by ‘Big 4’ accounting firm PricewaterhouseCoopers (PwC) “BIM Level 2 Benefits Measurement”, widely reported for its clear headline-grabbing findings of cost savings generated in BIM projects, over the traditional approach.
Perhaps equally important is the evidence uncovered of relationship between the results achieved and the relative maturity levels of the project teams involved in applying a BIM process.
The PwC methodology clearly identified a positive connection, with the more advanced teams involved in HM Government’s Department of Health doubling the % savings achieved by the Environment Agency.
||Benefit as % of cost
|Department of Health
|The Environment Agency
Source of data: PwC “BIM Level 2 Benefits Measurement”
Three key messages emerge from these independent studies:
- The vast majority of organisations are now reporting a positive return on their investments in BIM
- BIM can save money and bring a range of additional benefits to projects and teams involved
- The greatest benefits are being enjoyed by those more deeply engaged with BIM
So, whilst much of the media ‘hype’ and political drive concentrate on the advantageous effects of BIM on the industry as a whole, the evidence is also now mounting for the positive impact BIM can have on individual businesses.
Paying lip-service to compliance requirements may remain an option for some. However, for more savvy owners and senior managers, the practical and financial benefits of embracing true BIM, are now being seen as a real business opportunity that cannot be ignored.
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