BIM-Supporting System by Integrating Risk Management and Value Management

Abstract

Construction projects are of great importance because of their large financial allocations in the federal budgets of countries. This study used risk management and value management as an integrative model with Building Information Modeling (BIM). Risk management techniques were used to identify risks and quantify their impact on cost, and value management was used to identify effective mitigation measures for each risk factor. This study developed software to support BIM and risk management, including measures to assess risks and their impact on the cost estimation process, to be part of the information flowing to the project parties. The total number of risks was 52 with multiple mitigation measures for each determined using brainstorming. The Fuzzy Analytical Hierarchal Process (FAHP) was used to determine the relative importance of risk and the cost range of the selected items.