Building Information Modelling (BIM) technology has been improving in incredible ways in the past few years, and it is considered as an essential tool in the area of engineering and construction management. The perfect execution and application phase of a building project has always been sensitive and critical due to time and financial challenges, but an efficient BIM implementation can overcome those pressures. This thesis provides a guideline of deferent risks currently affecting BIM process in different aspects and also presents method which could support and help risk managers and engineers to monitor and control time and costs related to different projects by implementing risk management, monitoring and controlling techniques in BIM processes.