Construction Cost Estimating

      

Shared Information Platform decreases Construction Costs

It is proved by the recent research on the oil and gas industry market that, a shared digital management and communication platform on extensive construction projects can be helpful to reduce cost in the projects. The research has made by the Danish Building Research Institute during six-month that shows the effects of applying a particular IT concept in construction project. They researched on three construction project portfolio and these are:

1. The Maersk Tower: it is a 15 storied building with 42700 square-meter expansion to the Panum complex.
2. The Niels Bohr Building: it is a 52000 square-meter of new laboratory and academic building.
3. The Danish Defence’s Property Agency’s construction project portfolio or FES.

After researching on all these three projects the common thing found among them was that they all used GenieBelt as the shared IT platform for the progress management for a construction project portfolio, management of construction activities and the communication between the team and contractors of the construction management.

About IT Concept: This has three components, such as: the IT solution, methods and standards. During the research it is seen that the IT solution GenieBelt was mainly used by the client, the construction management team and the working constructors in a construction working site. The methods are the affairs which are supported and digitized by the IT solution, such as:

• Plan of digital construction production for all accomplishing constructors.
• Project management and teamwork of on-site construction activities.
• Interchange of construction activity plans.
• Optimizing of resources and construction activities.
• Assemblage and interchange of phase reports at activity level.

• Institution and assemblage of various quality assurance data and documentation at contractor or construction activity level.
• Digital delivery for the documentation of operation and maintenance.

Form this case research and studying after the case many qualitative and quantitative information has mentioned sufficient cost savings in both direct and indirect way. The researchers gone through a six month study period and figured out that the project of The Niels Bohr Building had saved around 1.5% of the total budget of the total project. The surprising one is that the biggest savings has made by the improving coordination of construction activities and diminution of process and installation stoppages.

For the project of the Maersk Tower, they had seen a positive effect where they could reduce 2-3% on the construction project and with them they learnt great progress and quick communication across all units.

Shared Information Platform decreases Construction Costs

Thus coordination and use of digital platform improved documented financial savings on the large construction projects also that helped them to engage more money in other works.

To get more information, go through the following article aec-business.com