BLOCKCHAIN-ENABLED DIGITAL TWIN FRAMEWORK FOR SECURE PROJECT COST MANAGEMENT

Abstract

Beyond issues arising from cost management practices, security concerns remain deepseated in the Architecture, Engineering and Construction (AEC) industry. Given that the construction industry is considered as a laggard in many aspects, such complications would only serve as an impediment to the holistic development as the industry continues to mature. In the era of continuous and rapid technological innovations, opportunities to exploit benefits from different tools exist indefinitely. However, limited assessments have been performed pertaining to the security outlook in the field of cost management. The paper delves into the unification of existing digital twin technologies and blockchain technologies to create a comprehensive, secure and standard cost management workflow whilst surmounting interoperability concerns. From the findings, the overall methodology presented its applicability and upsides in the AEC industry in time to come with reviews of high accuracy and reliability alongside being a worthwhile investment. However, simulations suggested that there are several modifications required to the process to finetune the overall mechanism. In the final analysis, limitations with how the paper approached the methodology have been identified resulting in recommendations for future works pertaining to the same topic that could solidify the framework with farther substantial results in a more extensive simulation.