Purpose The purpose of this study is to identify and analyse the key measurable returning factors, value drivers and strategic benefits associated with building information modelling (BIM) return on investment (ROI). The findings of this study provide researchers and practitioners with up-to-date information in formulating appropriate strategies to quantify the monetary value of BIM. The suggested research agenda provided would also advance what is presently a limited body of knowledge relating to the evaluation of BIM ROI. Design/methodology/approach To fill the identified gap, this study develops a comprehensive systematic review of mainstream studies on factors affecting BIM ROI published from 2000 to 2020. A total of 23 academic records from different sources such as journals, conference proceedings, dissertation and PhD theses were identified and thoroughly reviewed. Findings The reported BIM ROI ranged greatly from −83.3% to 39,900%. A total of 5 returning factors, namely, schedule reduction and compliance, productivity improvement, request for information reduction, rework reduction and change orders reduction were identified as the most commonly reported factors that influence BIM ROI. Four quantification techniques including general assumptions-based theoretical model, perceived BIM ROI based on survey, factors affecting BIM ROI with no reported ROI and quantified BIM ROI based on a case study were observed and pointed out in the review, together with their limitations. Finally, three major gaps were raised as the lack of consideration on the likelihood of BIM assisting in a construction project, intangible returning factors influencing BIM-based projects and industry standards in benchmarking BIM ROI. Practical implications The outcomes of this study would assist practitioners by providing the current evaluation techniques that address the limitations with BIM investment and present issues relating to the economic evaluation of BIM in the construction industry. It is also expected that presenting a deeper and wider perspective of the research work performed until now will direct a more focussed approach on productivity improvement efforts in the construction industry. Originality/value This study identifies and analyses the key measurable returning factors, value drivers and strategic benefits associated with BIM ROI on an industry scale rather than a particular organisation or a project scale.

PurposeThe business benefits envisaged for BIM represent the main criteria for decision-making about BIM implementation – or shy away from BIM. Despite the significance, traditional evaluation techniques have difficulty to capture “the true value” of BIM from multiple levels and dimensions – as an effective evaluation method is supposed to. This study aims to identify the significant factors that affect BIM return on investment (ROI), develop an integrated model for companies and examine the influence of intangible returning factors of BIM on the rate of BIM implementation.Design/methodology/approachA cluster sampling technique was used; 92 questionnaires completed by Australian architecture, engineering and construction small- and medium-sized enterprises (SMEs) provided the basis to identify and analyse the key measurable returning factors, value drivers and strategic benefits associated with BIM ROI.FindingsApplying the PLS-SEM technique, findings reveal that a lack of reliable quantification methods for the ROI factors associated with BIM significantly affects the organisation's commitments to implement BIM. In essence, the failure to adequately identify and assess these benefits could result in the system not being appropriately implemented and supported by executive sponsors, who give priority to hard and tangible ROI measurements.Practical implicationsThe outcome of this study would be of direct appeal to policymakers, industry professionals and the academic community alike, in providing data-informed insight into the intersection between the implementation of BIM and the concept of ROI. Findings would provide a springboard for further research into using ROI factors to increase BIM implementation. Though the findings are directly applicable and contextualised for Australia, they provide lessons and offer a blueprint for similar studies in other countries and settings. That is, regardless of the context, findings raise awareness and provide a point of reference for the quantification of intangible returning factors rather than the tangible returning factors, as one of the first studies in its kind.Originality/valueThe study provides original insight in drawing attention to an untapped area for research in BIM implementation, namely BIM ROI. Apart from raising awareness around BIM ROI, the study is novel in providing a quantified model that establishes the links and level of impacts of various factors associated with BIM ROI. Findings of this study, particularly add value to the body of knowledge related to the business implications associated with BIM implementation in the context of Australian SMEs, while providing lessons for other countries and settings.