BIM as a tool to optimize and manage project risk management

Project management ensures that all risks pertaining to a particular project are eliminated, if not minimized. The risks can originate from artificial activities or natural causes. Although some of the risks are potential to the project, others are not and are usually unforeseen to the project managers. Projects risks have adverse effects to the project if they are not eliminated or mitigated. It is the duty of the project team to collaborate in mitigating risks using appropriate tools. Although varying project teams and managers use different approaches to mitigate against project risks, Business Information Management (BIM) has emerged as a vital approach to mitigate project risks. BIM technology is crucial to the project life, beginning from planning, design, and construction management. Using BIM ensures that collaboration of the project team through information management enables adequate monitoring of the project, thereby enabling effective execution and achievement of set milestones. Despite the effective use of BIM in various projects, its use in the construction industry is unclear. This research investigates and analyzes significance of BIM as the most appropriate method in mitigating project risks