COMPARATIVE ANALYSIS OF BIM AND TRADITIONAL COST ESTIMATION METHODS IN CONSTRUCTION PROJECTS

Abstract

Cost estimation is an essential element of construction and the management of projects, including budgeting, allocation of resources, and overall project effectiveness. Traditional cost estimation depends on the manual calculations, expert judgment and historical data which can be challenging and prone to human errors. Building Information Modeling (BIM) has introduced more advanced digital techniques which give accuracy, efficiency and quick data integration. This dissertation offers an analysis of BIM-based and traditional cost estimation methods, comparing their efficacy, accuracy, cost efficiency, and impact on project performance. The study made a mixed-methods approach, integrating a literature review, questioners, and expert interviews to evaluate the benefits and drawbacks of each method. Important factors such data reliability, time efficiency, cost variations, and flexibility to project specifics are examined. The results indicate that BIM significantly reduces estimation mistakes, enhances collaboration among stakeholders, and facilitates dynamic cost modifications during the project lifecycle. However, obstacles including software expenses, training necessities, and reluctance towards technological use remain.