While 3D BIM relates to x, y and z points and 4D BIM adds time, 5D BIM is one of the most commonly used dimensions of BIM. It refers to adding financial cost information to the 3D models and duration. This allows for more accurate and automated estimation of the project budget and tracking and monitoring of the cost performance throughout the project phases.
5D MIM can be applied in various stages of an open-pit mining project, such as:
- Pre-mining: 5D MIM helps creating mining cost plans based on the design specifications and quantities extracted from the 3D models. It facilitates value engineering, risk analysis, and feasibility studies by comparing different design options and scenarios in terms of cost implications.
- Mining: 5D MIM supports managing the cash flow, procurement, and payment processes by linking the cost data with the 4D schedule and the actual work progress. It also enables real-time cost control and reporting by detecting deviations or variations from the baseline budget and updating the cost data accordingly.
- Operation: 5D MIM assists in estimating and optimising the life cycle cost of the mining operation (or any part thereof) by incorporating the maintenance, repair, replacement, and energy costs into the 3D models. It also provides valuable information for asset management, facility management, and rehabilitation planning.
Some of the primary objectives and benefits of 5D MIM are:
- Improving the accuracy and reliability of cost estimation by using data-driven and parametric methods rather than manual and subjective ones.
- Enhancing the transparency and communication of cost information among project stakeholders using a common data environment and standardised formats.
- Reducing the errors, rework, and waste in cost management by minimising the discrepancies and inconsistencies between different sources and versions of cost data.
- Increasing the efficiency and productivity of cost management by automating and streamlining the data extraction, calculation, analysis, and reporting processes.
- Supporting better decision-making and value creation by enabling scenario analysis, trade-off analysis, what-if analysis, and sensitivity analysis based on cost data.
5D BIM and 5D MIM are company standards and form an integral part of TacminMadini’s solutions and services. Where the need exists, and our customers wish to optimise project costs, track project progress, and budget conformance, we recommend a Project Control Solution with BIM or MIM.
