Assessment of Financial Risk Associated with Integrated Project Delivery Using BIM

In modern trends in construction industries, the paradigm shift towards Integrated Project Delivery (IPD) methodologies and the increasing reliance on Building Information Modeling (BIM) for project execution are transforming the industry. Studies have found the wide use of BIM technology for IPD risk management. In India, a rapidly growing economy with a burgeoning construction sector, the adoption of IPD and BIM presents both opportunities and challenges, influenced by unique socioeconomic dynamics and regulatory landscapes. Despite a growing body of literature emphasizing the positive impact of IPD and BIM on project outcomes, there remains a distinct gap in understanding the specific financial risks associated with IPD projects executed through BIM. This research seeks to address this gap by identifying and assessing the financial risks inherent in the execution of IPD projects using BIM. The objectives include conducting a comprehensive study to identify key risk parameters in IPD, developing a BIM model with various layers for clash detection, validating simulation results, and comparing financial outcomes with conventional building projects. The research aims to contribute valuable insights into the financial risk landscape of IPD projects, aiding stakeholders in making informed decisions for successful project delivery in the dynamic construction industry. To achieve this objective, case studies of residential projects from Pune city, India, are taken to assess the financial risk using BIM with reference to the framework mentioned in previous studies.