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

In: Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate

Author

Listed:
  • 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)

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.

Suggested Citation

  • Xiaoyan Jiang & Wenfeng Ouyang & Xiaoya Dai & Kang Hu & Yong Liu & Bo Xia, 2021. "A Framework of BIM-Based Value for Money (VFM) Evaluation Methods of PPP Projects at Decision-Making Stages," Springer Books, in: Fenjie Long & Sheng Zheng & Yuzhe Wu & Gangying Yang & Yan Yang (ed.), Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate, pages 797-807, Springer.
    • Handle: RePEc:spr:sprchp:978-981-15-3977-0_61
    DOI: 10.1007/978-981-15-3977-0_61
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