Standardized Cost Data—Based Enhanced Construction Project Management

Cost management is one of the most critical challenges in the construction indus-try, often characterized by uncertainties, deviations from the initial budget, and project delays. 5D BIM has revolutionized construction planning and manage-ment by offering greater integration and visibility of costs throughout the project lifecycle. However, despite its potential benefits, 5D BIM still faces several is-sues and challenges related to cost data management. The study examines the potential of utilizing a structured 5D BIM approach for optimizing project management. Initially, the organization of data across various domains relevant to project execution was analyzed, with a focus on the geometry (3D), time (4D), and cost (5D) domains. Subsequently, the data integration with-in BIM models for a comprehensive project view has been evaluated, highlight-ing the potential benefits of data standardization, especially concerning cost items. Finally, the study explored the possibility of verifying and validating the accuracy and consistency of BIM model data belonging to different domains. The results demonstrate the potential of structuring cost data to facilitate relation-ships between information and subsequent management and validation across dif-ferent domains. This approach establishes clear and transparent data relationships, ensures effective information validation even by machines, and reduces data du-plication and human error. Moreover, standardizing cost data promotes collabora-tion among project stakeholders, improving communication and information shar-ing. In conclusion, the research highlights how this approach can significantly en-hance management and data interoperability in the construction sector.