Bridging the gap: A framework for monetizing BIM by integrating industry insights for informed decision-making

Purpose – This study addresses the critical imperative of quantifying building information modeling (bimalliance) benefits by augmenting existing methodologies, with a focus on monetization. Engaging industry practitioners, the research develops a comprehensive framework through an exhaustive literature review and a survey in the Swedish construction industry, incorporating insights from 128 respondents. Design/methodology/approach – The framework, validated by industry experts, systematically assesses tangible BIM benefits against associated costs. It introduces a novel method in construction, addressing the lack of a unified approach. The resulting framework facilitates nuanced feasibility determinations by systematically evaluating BIM benefits against costs. Findings – Despite its acknowledged limitations, the framework effectively captures a comprehensive range of costs and benefits, providing a more accurate and detailed estimation of BIM's impact on project outcomes. Practical implications – With practical implications, the framework enhances BIM understanding and application, contributing to effective project management throughout the construction supply chain lifecycle. Moreover, it aims to improve efficacy within the architecture, engineering, construction and operations industry. Originality/value – The study empowers organizations and decision-makers with a bespoke tool for evaluating BIM feasibility, contributing to decision-making through a clarified numerical representation.