The July/August edition of Constructor Magazine has four pages examining the world of Building Information Modelling – looking at getting a return on investment when adopting BIM and also where BIM is headed in the future.
Constructor is a bi-monthly magazine sent to The Associated General Contractors of America and the most recent issue looks at the plethora of different opinions regarding BIM’s ROI. The article’s authors Damon Socha and Jennifer Lanzetti think that BIM should not be viewed as a pioneering way of saving money; rather, it should be seen as a pivotal risk reduction strategy.
“BIM return on investment is fraught with varying opinions,” write Socha and Lanzetti. “We must view it from a higher perspective: BIM should not be viewed as a directly relatable money-saving application, but a risk-saving strategy. The fact is BIM/virtual construction implementation is expensive and will be a cost to the bottom line of any company. You will not likely make any more money using it that will directly relate to its use.”
In a bold claim, the article then goes on to refer to BIM as “disruptive”. The authors write: “There is no directly relatable capital in virtual construction or BIM. So the question begs, if it provides no direct monetary incentive, why engage in this disruptive practice?
“The answer gets to the heart of what we do as designers and contractors. Yes we design and construct buildings but the reality is we are risk managers.”
Elaborating on this notion and the importance of cutting down risks, the report continues: “We are risk managers and the better we manage, the better our profit and final product. The answer to the question of “Where is the money?” is quite simple. Without the effective implementation of virtual construction technologies, “where is the money” will become “what happened to my profit?” Projects will be marginally effective and minimally successful at best. Instead of asking “What is my ROI?” perhaps better to ask “What is my LOF, loss on failure?”
Read the entire article and the second article where BIM is headed by clicking here.