A SCIENTIFIC METHOD TO COMPUTE RETURN ON INVESTMENT (ROI) OF BUILDING INFORMATION MODELING (BIM)

Abstract

Building Information Modeling (BIM) is the up-and-coming trend in the construction industry to date. It is driving the most transformative evolution the construction industry has ever experienced. Many countries, like the United States and the United Kingdom have implemented BIM through their public sectors; Singapore is also one of the leaders in this area. However, the lack of proof in ROI in terms of quantitative benefits and the non-existence of theoretical frameworks caused many organizations in local construction industry to question whether or not to employ alien BIM-tools which were promoted by BCA recently. This research study was undertaken to scrutinize the qualitative and quantitative benefits and returns of investment for BIM implementations in companies of various disciplines, in the local construction industry. Quantitative data was collated through a survey questionnaire designed and sent out to consultants and contractors operating in local construction field. The results were analyzed using various statistical instruments. Qualitative information describing the in-depth benefits of BIM was also studied through two local multi-disciplinary cases. A framework to compute ROI of BIM was developed in this research. It is a comprehensive framework that can be applied to different disciplines regardless of whether they are prospective users or existing BIM users in the construction industry.