Construction management has become easier with a new model. It takes the larger scale plan and the details from the plans, reports, schedules, and cost reviews, and then updates them in real-time. This new system is BIM (Building Information Model). With the real-time data from the BIM, construction management is furthered, but most importantly, property managers will be able to enhance asset management.

The BIM (Building Information Model) is the management of information through the whole lifecycle of a construction project. It involves the interoperability of all the components.

Benefits of BIM

The goal of a BIM includes improving collaboration, reducing costs and schedules or even avoiding the loss of information and a smart-use of the data. The BIM also enhances the management of assets and this is the reason why the concept is emerging all over the construction world.

Experience of several organizations has shown that significant improvements in asset/service performance, reduced risks and cost savings can be attained by applying asset management systematically, throughout an establishment.

How Can It Be Implemented in Asset Management?

In order to support this objective, ICE (Institute of Civil Engineers) and IAM (Institute of Asset Management) developed an Application Guide on Enhancing Asset Management through BIM. The whole objective should focus on bringing existing assets into BIM, developing new assets and operating and managing them into the model.

Thus, the information collected and managed should include a kind of inventory or register for assets such as condition data, capability information and life expectancy data of equipment and materials with an intervention for maintenance or renewal and their costs and also an asset history.

The availability of appropriate and reliable information about assets is crucial for the effective management of assets as it reinforces decision making, planning and execution of activities on assets. By providing a structured framework for the insertion, inspection and exchange of information related to assets, the information model could be an effective support leading with assets management. However, BIM must supply enough information related to the whole lifecycle of the project, therefore, of the assets presence. Recognizing this, a new standard BS PAS 1192-5 was developed to extend BIM in order to enable the cover of the various asset phases during the service.

Although the purpose still needs to be applied to significantly enhance the efficiency and effectiveness of asset management and obtain optimized benefits, it will play an important role in the construction industry as well as a number of other industries. In fact, the BIM concept on developing a project and enhancing asset management should and will possibly be adapted to scenarios other than construction.

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