BIM and physical asset management

Building Information Modeling (BIM) and physical asset management, also known as Asset Information Management (AIM), are two of the current hot topics within the construction sector and with good reason.

The construction industry is one of the key contributors to economic growth and development. Any investment in the improvement of construction productivity and efficiency would have direct impact on the economy. Therefore, a modern, competitive and efficient construction service is essential to any country’s economic prosperity.

In this blog, we look at what do BIM and AIM mean for the construction sector and how the two link together and support each other towards the establishment of an organised, efficient and highly productive construction environment.

This blog article is one in a series developed to share knowledge and equip you to get even more out of your tools and staff. Read the other articles here. 

BIM is the process of creating a digital model of a building or infrastructure facility. BIM is a collaborative way of working, underpinned by the digital technologies used to unlock more efficient methods of designing, creating and maintaining assets.

The fundamental idea behind BIM is having a single source of truth accessible to all parties involved that enables the creation and sharing of the right information at the right time throughout the design, construction and operation of a building.

The implementation of BIM offers enormous gains in terms of cost and time savings. It enables greater accuracy in estimation, as well as contributes towards eliminating costly errors and reworks of a project due to information loss.

The main drivers for the adoption of BIM include:

• Reducing asset costs
• Achieving greater operational efficiency
• Facilitating greater efficiency and effectiveness of construction supply chains
• Assisting in the creation of a forward-thinking sector
• Implementing BIM compliance is not a simple process and involves a number of levels of implementation that act as milestones towards its full adoption.

The savings that BIM could deliver, if implemented adequately, to the construction sector and its clients could be exponential. This is why BIM is a core part of the global construction strategy.

And while BIM is certainly a must have process in any construction organisation, effective physical asset management should not be pushed aside either. Here’s why.
 

While BIM tends to deal with the actual planning, build and maintenance of the creation of a building, physical asset management is there to provide the management and control over the tools, equipment and stock used during the actual build of a project.

Construction asset management is a crucial aspect of any business with numerous benefits, all of which tend to lead to improved productivity, reduced costs and minimised downtime. Asset management can:

• Help you prevent theft and loss of equipment
• Ensure that the right assets are in the right place for the smooth running and completion of a project
• Provide accurate tool and equipment stock levels
• Help prevent equipment malfunction by managing maintenance and repair schedules
• Ensure your equipment meets regulatory inspection and testing regimes

Asset management software can not only help you manage your equipment more efficiently and give you full control over its compliance status, but it’ll also enable you to manage the compliance status of your employees, ensuring that their certifications and qualifications are always up-to-date.
 

The alignment of BIM and asset management, or the use of both, will enable companies to maximise the value delivered from their physical assets while operating in a safe and environmentally responsible manner.

While both methods deal with different aspects of the construction project, the ability for them to work symbiotically together is crucial to the final success. BIM and asset management software, both revolve around the idea of having one single source of truth that enables each member of your team to save time looking for information.

Using both BIM and asset tracking software means having transparent information available to every person within the organisation - leading to enhanced productivity, bringing back the perfect information flow, where everybody works together.

When aligning BIM and asset management strategies, you will reap the following benefits:

• Achieve greater clarity on long-term in-service performance
• Reduced project start-up costs due to availability of better information during the beginning of the project
• Reduced construction and operational costs as a result of reduced construction defects and mistakes
• Better life cycle management
• Reduced management process costs arising from incomplete data

Asset management software is the first step towards the adoption of a more transparent and responsible approach of managing your operations. Out of our industry experience and knowledge, we put together this easy to read guide, ‘Introducing asset management software for the construction industry’.

In our free to download guide you will find everything you need to know on how asset management technology can enable you to significantly improve the productivity of your site, decrease spend and time spent on projects and set the beginning of a modern, forward thinking construction business aligned with the industry’s ambitious plans for success. To download your copy, follow the link below.