S. S. Pimplikar

Bio: S. S. Pimplikar is an academic researcher from Massachusetts Institute of Technology. The author has contributed to research in topics: Investment (macroeconomics) & Life-cycle cost analysis. The author has co-authored 1 publications.

Use of BIM for Study of Life Cycle Cost Analysis of Residential Complex

Abstract: The initial costs of a building are quite small in comparison to the life cycle costs, as it is estimated that they represent less than 30% of the total life cycle cost of a building. Accordingly, if we consider integration of the life cycle cost of a building into the estimation of investment values, then we would have a better and clearer idea of how much our total operation costs are during and after construction process. Did an overview of Life Cycle Assessment and Modelling tools and BIM integrated LCC evaluations. Used BIM objectives by Krieder for to generate Life Cycle Cost Analysis of the Residential Building. Findings of this study demonstrate the opportunities to manage and estimate a reliable and accurate information on a building’s life cycle in real time by considering each element and its components into the calculation, which may change the metrics for a real estate economic evaluation in order to achieve sustainable and efficient property investment. The adoption of the building information modelling to generate relative LCCA databases directly benefits the real investment cost calculation for investors.

Exploring the synergies between Life Cycle cost / Whole Life Cost and Building Information Modeling: A Systematic Literature Review

Abstract: Life Cycle Costing (LCC) is a cost estimating approach for project and asset planning and delivery that considers the direct and indirect costs incurred over the entire life cycle of an asset. This approach can be expanded to the concept of Whole Life Cost (WLC), which additionally considers externalities and benefits. WLC can demonstrate the financial impacts, both positive and negative, of a project on its environment, in other words it can show its complete value. Despite its potential, the approach is still perceived as complex because, among other things, access to data can be difficult and the approach is still not supported by a standardized methodology. Building Information Modeling (BIM) could be used to address these issues as both WLC and BIM are deemed complementary. BIM provides WLC with better data management, improved calculation accuracy and visualization of project impacts. In return, WLC improves project understanding, decision making and reinforces life cycle thinking. This paper aims to study the potential synergies between BIM and WLC through a systematic literature review. The identification of these synergies helped form a frame of reference to better understand the opportunities that this combination can offer. Future studies would be needed to explore the application of BIM and WLC at different project scales and identify the context in which the combination of BIM and WLC is the most beneficial.