An information model for real-time project cost integration

Medium to large construction companies generally have a large number of projects at one time, many internationally. Corporate managers of such companies have to deal with a large amount of information for managerial decisions. These decisions must be made in a timely manner because delays usually cause heavy financial losses. Computerized management information systems are often used to manage construction projects. Despite the use of computerized systems, construction companies spend days or weeks to collect, compile, and analyze data related to project status, including progress, quantity, quality, and payments. Many opportunities to optimize resources pass because project control teams do not have the most up-to-date information. One of the reasons for this limitation is the lack of integration among the various information systems existing within a firm. Efforts have been spent by researchers in the architecture, engineering, and construction (A/E/C) community to define such information models to support integration and timely decision making, such as STEP (Standard for Exchange of Product Model Data) and IFC (Industry Foundation Classes). These models, however, fall short in providing support for multi-project cost integration. Construction costs, in most management information system design, are commonly imbedded as one of the attributes within an activity. Although this method works, it doesn't work well when information needs to be combined or integrated across various systems or different projects. This research builds on the latest developments of IFC, and develops anew information model that supports cost integration for construction projects. A prototype system was developed to verify and validate the information model by using real-life project data. This information model, named OCIM, provides a new perspective for designing management information system for the construction industry. OCIM may serve as a blueprint for designing information systems that support cost integration for multiple projects.