KPMG-NAREDCO report suggests that by 2030 India could be the world’s third-largest global construction market.
In a single financial year, India is investing around $ 81.78 Trillion for developing and upgrading infrastructure.
In just 3 years UK has saved over $ 2 Billion by mandating the use of BIM in public sector projects.
The Top 100 Contractors across the globe operate at profitability of just 1.5%.
Well, this is just the beginning.
Over the decades and centuries, technology has not only made things simpler but has helped to save trillions of dollars, in everything we do. From the world’s thinnest laptops to the world’s largest aircraft, technology has touched every aspect of our life. Companies and industries, which maintained their pace with the technology, are the ones that are successful today.
In the case of the construction industry, technology has revolutionized the industry and has changed the way construction takes place across the globe. However, there is still a big gap between the methods adopted by construction companies and the available technology in the industry. A big also means, there is great potential, of not just streamlining the construction processes, but also save a great amount of money. Adapting the right technology can help construction companies to save time and cost and enhance their profitability.
In recent times, Building Information Modelling (BIM) has gained mass popularity worldwide, especially in India. Companies engaged in the construction business are embracing BIM, for both public and private sector construction projects.
In case, if you are not aware of what BIM is, let’s understand it quickly. In simple words, BIM can be defined as a multi-dimensional graphical representation of a construction project. It helps to build virtually before building physically, enabling the different stakeholders in the construction project to get a feel of and understand the physical and intrinsic features of the project.
The BIM approach is very helpful because it helps in understanding as well as eliminating the issues that may actually arise in the construction phase. When the three dimensions of BIM are combined with the parameters such as cost, time, and project lifestyle management, it creates a six-dimensional model and serves as a point of reference for all stakeholders in the construction process. BIM approach takes the architects, engineers, and builders, miles ahead in the construction process since they can execute the work efficiently by eliminating or significantly minimizing the obstacles which may arise during the construction process.
Some of the keywords which define the Building Information Modelling (BIM) are:
- Efficient execution
- Project lifecycle management
- Multidimensional approach
- Cost control
- Timely execution of projects
- Better coordination