The market has a huge potential, which has only begun to be understood by investors and aspiring entrepreneurs. Recent events have shown such investors and entrepreneurs that even though the industry is growing quickly, more can be achieved. The way to achieve this higher growth is by implementing the latest technology and information systems, which can help increase productivity and speed up project completion. Even though the past year has been a bit rough for this industry, labor and safety remain major issues for all large industry players.
The pandemic has also shown industry leaders the incredible power of technology the latest information systems and building systems have, which can identify room for improvement in an industry that’s notoriously known for its high wastage and inefficiency. In fact, it was estimated in 2004 that the construction sector lost $15.8 billion in the US alone due to inefficiency.
This high-wastage and low-output trend was bound to end at some point and the recent push towards technological aid has done just that. With new systems that use state-of-the-art equipment and advanced algorithms, engineers are able to accurately measure and predict future designs and thoroughly analyze them. One of the most commonly used software and systems include Building Information Management systems or BIM.
What are Building Information Management Systems?
Building Information Management or BIM is a solution-oriented modeling system that uses advanced system algorithms to predict and analyze complex building or architectural designs more accurately. This makes it a very useful tool for engineering or construction businesses because it saves large sums of money in the long-term.
One of the most integral aspects of BIM is the focus on information and data, according to experts. This is because it uses a large amount of input data, such as quantities and measurements, to compute accurate models and representations of projects. This conversion of raw numbers and data into usable and actionable information is one of the biggest advantages of these systems.
Most large construction businesses have been able to realize the benefits of these systems, which is why a third of large architectural and engineering firms have already been using them for 5+ years.
So, if you’re a construction or engineering firm owner, why should you invest in a Building Information Management system? What are its advantages?
Reduced Risk:
With its ability to catch errors early on in the planning phases of a project, BIM systems have provided them with valuable input early on. This goes on to show why 70% of architects and 69% of engineers have reported a reduction in their project error and data friction after using BIM systems.
Having a lower risk in the project makes it more reliable and safer in the long-term, which brings more success to the people involved in such projects. Similarly, it leads to a higher quality of work being done by you or your team too.
Improved Efficiency and Shorter Project Lifecycles:
It may not come as a surprise but when you have such powerful tools backing your work, your efficiency and productivity are bound to improve. Not only are you more certain about your decisions, but you’re also able to make more accurate predictions, and work on projects simultaneously. This, combined with the time saving that BIM services provide, helps in reducing the lifecycle or the time taken to complete a project. This time can then be used for other projects, which in the long-term leads to more chances of growth and success for your construction business.
Better Communication & Higher Quality:
With the help of such tools, the level of risk and errors are reduced and the quality delivered to the client increases. Similarly, by having a universal platform throughout the organization, you can improve the communication between all employees. This makes BIM services useful as they would help in reducing any communication gaps that have occurred otherwise and would’ve led to an error on the part of the company. When the whole organization and teams are on the same page, you can see a clear improvement in their work and its quality. This higher quality can be leveraged later and might even lead to higher revenue or more clients coming to you with their business.
Cost and Resource Saving:
Using a BIM system can be a cost-saving tool in the long-term, as they’re able to reduce larger expenses that might’ve occurred if errors weren’t pointed out early on in planning. This cost-saving has been a very big convincing point for most businesses that have bought or use BIM systems. A good way to analyze this is by looking at businesses that have seen a return on their initial investment. According to research, 82% of businesses have seen positive returns to their investment in BIM services and systems, while another 14% have reached close to their break-even point.
After considering all the benefits of Building Information Management Systems, you might be interested in investing in one for your own business. At 3Alpha LLC, we’re here to help you and your organization with your engineering and BIM needs.
Our years of experience in the field of engineering, architectural visualization service and helping small or medium enterprises reach their full potential puts us in a unique position to be your engineering service provider of choice. Visit our website to learn more about our services or contact us.
