Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223431
Title: VIABILITY OF BUILDING INFORMATION MODELING (BIM) BUSINESS AND BIM �S IMPACT ON PAYMENT SYSTEM (SINGAPORE)
Authors: TAN YING TING MICHELLE
Keywords: Building
PFM
Project and Facilities Management
Teo Ai Lin Evelyn
2014/2015 PFM
Building Information Modeling (BIM)
BIM
BIM Adoption Barriers
Benefits
Payment Shift
Viability
Issue Date: 29-Jul-2015
Citation: TAN YING TING MICHELLE (2015-07-29). VIABILITY OF BUILDING INFORMATION MODELING (BIM) BUSINESS AND BIM �S IMPACT ON PAYMENT SYSTEM (SINGAPORE). ScholarBank@NUS Repository.
Abstract: With Building and Construction Authority (BCA) spearheading the BIM adoption plans in Singapore, the industry is slowly edging toward BIM adoption and maturity in the coming years towards the targets set from the BIM Roadmap. The viability of Building Information Modeling (BIM) business has been of a major concern of the local building authority, with the enhancement of BIM efforts to realign the sector towards a BIM knowledge-based construction industry. This study aims to delve deeper into the BIM adoption barriers as well as ways that the government and the firms can mitigate these barriers to achieve higher business value of BIM. The proposed upstream 5% payment shift from the construction stage to payment stage as proposed by the BIM Steering Committee in the BIM Guide V2 is found to be insufficient in catering to individual projects and does not necessarily result in a optimal interpretation of industry practices. Hence, this study proposes a suitable framework and formula, accounting for a change in the suggested percentage payment shift for any unique project or company, based on three factors, namely project’s characteristics, company’s BIM profiling and lastly level of BIM skill required. The deviation in the suggested percentage shift is deemed necessary to reward and motivate the industry to push on for a higher BIM competency and for better cash flow within the project that may be used for other purposes to benefit the project.
URI: https://scholarbank.nus.edu.sg/handle/10635/223431
Appears in Collections:Bachelor's Theses

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