The progression is logical: it all starts with 2D drawings; then we receive or make the 3D models and coordinate them; then we use the construction-caliber quantities from the takeoff for the 4D schedule and the 5D estimate.
Once you have the quantities, it's just a matter of getting the production rate from your Subs' bids (and/or historical performance data); dividing the project into logical locations; and applying unit costs for materials, equipment, and labor.
So how do we get from HERE to 5D BIM? We need to start using the 3D model for quantity takeoff. Correct, coordinated quantities are the key to both 4D scheduling and 5D estimating.
What can you do with 5D BIM capabilities?
1.) Show an Owner what happens to the schedule and budget when a change is made on the project.
2.) Organize your own in-house database with cost and pricing information, labor productivity rates, crew composition data, and Sub KPIs.
3.) Provide cost-loaded schedules for the Owner.
4.) Provide multiple, iterative (evolving) estimates for the Owner which s/he can quickly compare to the target cost.
5D BIM is more than model-based estimating. It's a new way of working with the Owner and the project stakeholders, bringing a wealth of information and experience to the project in a visually communicative way.
Here are some resources to help you and your team learn more about 5D BIM:
Webinar: Model-Based Estimating
Blog: The Flying Dutchman's Blog on Construction Cost Planning
Services: Construction Services for Cost Planning
We also offer a step-by-step guide to our 5D virtual construction workflow with video tutorials. These videos are just 2-5 minutes in length, but illustrate how to use a particular piece of functionality. You can access the video library index and view just what you need, or download the complete set of training videos.