Fimpec’s range of services expanded to include cost management

Fimpec has expanded its range of services by separating cost management services into a department of its own. The service is based on Fimpec’s new QIM concept for data, which helps to keep construction projects within budget and on schedule.

During its operations, Fimpec Oy has implemented dozens of investment projects in a wide range of industries. From these projects, Fimpec has accumulated an extensive and diverse range of post-calculation material, which it has now used as the basis for the development of its own Quantity Information Management (QIM) concept for managing quantity information in construction projects.

The concept is used to manage costs in different areas of a construction project, such as material procurement, scheduling, and site management, resource allocation and procurement. This makes it easier to keep even large construction projects within budget and on schedule.

“We have of course utilised our quantity information management skills in previous projects that we have been involved in. But our QIM concept has taken quality information management forward in a way that expands its use and makes it possible to productise the concept into a service that can be used not only in industrial projects, but also for building construction and infrastructure,” explains Operations Manager Teppo Grén, who is responsible for cost management.

Quantity information management generates savings

One essential factor in good quantity information management is the possibility of significant cost savings in a construction project. Grén believes that the reason behind this is quite simple.

“One good example is how common it is for more goods are brought to the construction site than are actually needed. This causes losses and other excess costs, which can make up a surprisingly large share of expenditure, especially in major construction projects.”

“This is exactly the problem we want to tackle with our QIM concept. If you can precisely calculate demand, you will reduce loss. In the same way, it helps to reliably determine the correct cost level in the early phase of the construction project, which provides a foundation for decision-making and solutions. In a way, this is the application of LEAN thinking to cost management; minimising the unnecessary.”

ICT developments made it possible

Attempts have been made at precision cost management before. Teppo Grén believes that it wasn’t the right time to take the next step before now. The reason for this is developments in technology.

“I have studied and developed cost management issues since the 1980s, and cost management has been an important part of Fimpec Oy’s operations right from the start. We are now finally in a situation where it has become possible to integrate experience and know-how with modern technology as 3D modelling and related competence have developed enough.”

Development of the QIM concept is also related to Fimpec’s expansion of its range of services. Since the start of this year, cost management services have been separated into their own department, including quantity calculation services, cost and agreement management services, and cost estimates.

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