1. A comparative analysis of traditional and BIM-based quantity surveying practices in construction projects 2. Development of a risk assessment framework for cost estimation accuracy in public infrastructure projects 3. Evaluation of post-construction cost overrun drivers and mitigation strategies in residential developments 4. Integrated cost planning and control model for sustainable high-rise buildings 5. Assessing the impact of early-stage cost uncertainty on project delivery timelines 6. Implementation of 5D BIM for lifecycle cost management in commercial projects 7. Quantifying the value of cost-re planning for retrofit and refurbishment projects 8. Development of a standardized bill of quantities automation tool for small-to-medium scale projects 9. Analysis of cash flow forecasting accuracy in mega-projects using real options theory 10. Pricing strategy optimization for contractor prequalification in public-private partnerships

Project Abstract

This study investigates the evolving landscape of quantity surveying by comparing traditional methods with Building Information Modeling (BIM)-based practices, while simultaneously developing a comprehensive risk assessment framework to enhance cost estimation accuracy in public infrastructure projects. Through a mixed-methods approach, the research analyzes how BIM enhances quantity take-off accuracy, clash detection efficiency, and lifecycle cost forecasting compared with conventional methods across multiple project typologies, including infrastructure, residential, and high-rise developments. The study integrates quantitative data from historical project records, BIM execution plans, and cost performance indices, alongside qualitative insights from practitioners, to identify key drivers of estimation error and cost variance. A structured risk assessment framework is developed, incorporating probabilistic cost estimation techniques, sensitivity analyses, and decision-support tools designed to proactively manage uncertainties in early design phases, procurement strategies, and market conditions. The framework emphasizes stakeholder alignment, data governance, and standardized cost classification to improve reliability of budgetary baselines and reduce contingency reliance in public infrastructure programs. Furthermore, the research evaluates drivers of post-construction cost overruns in residential developments, examining material price volatility, design changes, scope creep, and project financing constraints, and proposes mitigation strategies rooted in early cost planning, change management, and performance-based contracts. An integrated cost planning and control model for sustainable high-rise buildings is proposed, combining 5D BIM capabilities with value engineering, life-cycle costing, and green building certification requirements to optimize procurement, schedule adherence, and operating expenses over the building’s life cycle. The study also probes the impact of early-stage cost uncertainty on project delivery timelines, exploring probabilistic schedule risk via real options reasoning and Monte Carlo simulations to quantify schedule buffers required to maintain target completion dates. In the realm of lifecycle cost management, the research demonstrates the application of 5D BIM for dynamic cost tracking, facility management data integration, and post-occupancy cost performance evaluation, with case studies from commercial projects highlighting improvements in maintenance planning and retrofit decision-making. The value of cost re-planning for retrofit and refurbishment is quantified through scenario analysis, emphasizing opportunities for modularization and near-term refurbishments to defer capital expenditures and extend useful life. A standardized bill of quantities automation tool for small-to-medium scale projects is developed, featuring rule-based data extraction, error-checking algorithms, and user-friendly interfaces to streamline tendering and reduce procurement lead times. The study also analyzes cash flow forecasting accuracy in mega-projects using real options theory to capture managerial flexibility under uncertainty, and evaluates pricing strategy optimization for contractor prequalification in public–private partnerships to incentivize competitive bidding while ensuring project value capture. Overall, the research contributes a robust, practitioner-oriented framework combining BIM-enabled cost management, risk-informed estimation, and lifecycle-oriented financial decision support to improve cost control, project delivery performance, and long-term value in diverse construction contexts.

Project Overview

What This Project Is About

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A practical look at how quantity surveying is done today, comparing traditional methods with Building Information Modeling (BIM). It also covers how to assess cost accuracy, manage project costs during design and construction, and apply simple tools to residential, commercial, and public projects.

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The Problem It Addresses

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Many projects face cost overruns and delays because traditional cost estimating can be less precise and slower, and modern BIM methods may not be widely adopted. This study identifies where costs can go wrong and how better planning and tools can reduce waste and improve delivery times.

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Objectives of the Project

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1. Compare traditional and BIM-based quantity surveying methods in real projects.
2. Develop an easy-to-use risk-checklist for cost estimation in public infrastructure.
3. Identify main drivers of post-construction cost overruns in residential builds and propose fixes.
4. Create an integrated planning approach for cost control in sustainable high-rise buildings.
5. Assess how early cost estimates affect project timelines.
6. Explore using 5D BIM for lifecycle cost tracking in commercial projects.
7. Quantify the value of re-planning during retrofit projects.
8. Propose a simple tool for automated bills of quantities for small-to-medium projects.
9. Provide insights on cash flow forecasting for large projects using practical methods.
10. Suggest pricing and contractor prequalification strategies for public-private partnerships.

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What You Will Do Step by Step

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1) Review basic terms and gather example project data. 2) Observe and document how traditional and BIM methods handle quantities. 3) Build a simple risk framework for cost estimates. 4) Analyze published cases of overruns in homes and how to mitigate them. 5) Outline an integrated cost planning approach for tall, sustainable buildings. 6) Test how early estimates relate to timelines. 7) Look at 5D BIM for lifecycle costs in a sample project. 8) Create a draft tool for automated bill quantities. 9) Draft practical cash flow checks for big projects. 10) Summarize pricing ideas for partnerships.

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Expected Outcome

A clear, student-friendly comparison of traditional vs BIM methods, a ready-to-use risk assessment framework, practical strategies to avoid overruns, and simple tools to improve cost planning and cash flow in various project types.