PROJECT SCHEDULE RISK MANAGEMENT THROUGH BUILDING INFORMATION MODELING

Abstract

Construction projects are unique in nature resulting in an exclusive result at the end. Dynamic nature of these projects and involvement of large number of stakeholders exposes them to a variety of known and unknown risks. Cost and time are the two most important and interlinked project constraints that influence the currency of the project. Many a times, projects fail to keep up with the planned schedules and budgeted costs to meet their goals. Behind schedule delays lie many known and unknown risks, to cater to which many theories and models have been proposed. However, this aspect still demands much work in the face of consistent time failures in the projects. Building information modeling (BIM) has been introduced as a promising technology which aims to facilitate the planning and decision-making, and addresses a myriad of issues. But the effect of BIM on construction delays has not been sufficiently studied so far. This study focuses on project schedule risk management using the modern concept of BIM. In doing so, major risk factors affecting project schedule will be identified, along with the features of BIM which have effect in solving these risks. Based on the factorfeature matrix, the resolution capacity of identified risks due to BIM will be assessed and applied through a case study. The implications of this research involve value assessment of BIM in resolving duration related risk factors which will help stakeholders achieve project success and promote BIM adoption to its fullest.