A Framework of BIM-Based Value for Money (VFM) Evaluation Methods of PPP Projects at Decision-Making Stages

Xiaoyan Jiang (jiangxiaoyan@hfut.edu.cn), Wenfeng Ouyang (ouyangwf51k@163.com), Xiaoya Dai (532088637@qq.com), Kang Hu (694709428@qq.com), Yong Liu (jhly1007@zstu.edu.cn) and Bo Xia (paul.xia@qut.edu.au)
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Xiaoyan Jiang: Hefei University of Technology
Wenfeng Ouyang: Hefei University of Technology
Xiaoya Dai: Hefei University of Technology
Kang Hu: Hefei University of Technology
Yong Liu: Zhejiang Sci-Tech University
Bo Xia: Queensland University of Technology

A chapter in Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate, 2021, pp 797-807 from Springer

Abstract: Abstract Key decisions made in the application of PPP models rely on VFM(Value for Money) evaluation. In the face of the current dilemma of evaluation results ‘straying from being truthful’, how to establish a more scientific evaluation method needs to be urgently resolved. Given the advantages of BIM technology, it is suggested to introduce BIM into VFM quantitative analysis of PPP projects, and cost analysis and risk estimation in the evaluation system. This paper presents an innovative BIM-based VFM evaluation method throughout the Decision-Making Stages of PPP projects, which is of both theoretical and pragmatic significance to overcome existing VFM dilemma and pave the way for sustainable development of PPP projects.

Keywords: BIM; PPP project; Value for Money (VFM); Evaluation methods (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-981-15-3977-0_61

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