Md. Rafsan Jany, Rezaul Karim, Mst. Shamima Shirin, Md Shahadat Hossain, Redwanul Haque Jami, Md. Mesbah Uddin
Bangladesh’s rapid urbanization and Smart City vision demand transformative approaches to construction project delivery. Building Information Modeling (BIM) offers proven benefits in efficiency, cost reduction, and lifecycle management, yet adoption remains limited due to financial, technical, and institutional barriers. This paper explores how phased investment strategies and financial support mechanisms can mitigate risks and accelerate BIM adoption in Bangladesh. To identify key barriers, evaluate global best practices, and develop a strategic roadmap tailored to Bangladesh’s construction sector. The study integrates statistical risk measurement with phased investment (real-options approach), reframing BIM adoption as a manageable, evidence-based process rather than a high-risk commitment. A dual approach is employed: (i) a comprehensive literature review of global BIM implementation strategies and Bangladesh-specific studies, and (ii) application of the statistical risk measurement framework to quantify implementation risks in terms of probability and cost. Findings reveal challenges, including high upfront costs, workforce skill shortages, interoperability issues, and cultural resistance. Risks are categorized into management, employment, and technical domains. Global evidence highlights the importance of government leadership, national standards, and structured education. Phased investment enables learning, reduces uncertainty, and limits financial exposure, while quantified risks justify financial support mechanisms such as subsidies and low-interest financing. A strategic roadmap is proposed, emphasizing phased BIM implementation, government mandates, capacity building, adoption of open standards (e.g., IFC, ISO 19650), and international collaboration to support sustainable urban development in Bangladesh.