Building Information Modeling (BIM) in Cost Management: A Life-Cycle Approach During Construction Phases of Building Projects

Abstract

The paper focuses on analyzing the role of Building Information Modeling (BIM) in construction project cost management throughout the entire execution cycle, encompassing the stages of technical design, contractor selection, construction, commissioning, and final settlement. BIM is regarded as an integrated data platform that enables accurate quantity take-off, detection of technical clashes, monitoring of actual progress, control of cost variations, and enhancement of transparency in payment processes. By synthesizing and analyzing domestic and international literature, the study clarifies the potential and limitations of BIM adoption in Vietnam, particularly the lack of data standardization, uneven implementation capacity, and insufficient connectivity among specialized departments. Based on these findings, the paper proposes strategic solutions to improve the effectiveness of BIM in cost control, emphasizing the importance of organizational coordination, supportive policies, and capacity enhancement to ensure seamless implementation from design to project handover.