It is the latest evolution of the building industry and it refers to the process of designing, building and operating a building collaboratively using a single coherent system of 3D models rather than separate design drawings. BIM incorporates people and technology to streamline time and cost, and improve efficiency in builds including skyscrapers, hospitals, office and residential buildings.
BIM isn’t just a set of software or simply a 3D model. It contains not only the model elements but the vast amounts of information that make up the project, as well as the process of exchanging that information with other parties involved. Whereas previous workflows relied on multiple file formats and disconnected processes that quickly became out of sync when changes were made, BIM workflows allow for a much more dynamic and synchronised approach to project management.
Get a graphical illustration of BIM here.