Quantifying the Environmental, Social, and Economic Value of Educational Building Projects using BIM Data

A recent report by the National Research Council of the National Academies (NRC) has defined the research on understanding and quantifying the environmental, social, and economic value of our infrastructure systems to their stakeholders as a “national imperative”. There is still a lack of understanding and formalized modeling of what different stakeholders value (the values, e.g. energy conservation) in our infrastructure systems and how to valuate (i.e. quantify the worth) our infrastructure systems based on these values. In our previous work, we conducted theoretical and empirical studies to identify what different stakeholders value in educational buildings. In this paper, we focus on presenting our value quantification model – our model for quantifying the worth of an educational building based on different stakeholder values. We also present our methodology for selecting the indicators that will be used for value quantification. The paper also discusses our approach of integrating our valuation model with Building Information Modeling (BIM), so we can automatically extract the data needed for valuation from an existing BIM project model. We conclude the paper with a case study.