• Short-term capital cost (i.e. was the project completed on budget?)
• Long-term operating costs (i.e. is the facility economic to run?)

In both cases, an accurate cost estimate is essential. The BIM process relies upon a component-based philosophy, which allows quantities to be automatically extracted from the project model. Costs data can be linked to components in the model leading to quicker and more accurate tender preparation and cost estimation. It is also possible to produce interactive value engineering models which can be linked directly to supplier’s price information.