This document discusses managing risks associated with building information modeling (BIM) in Hong Kong construction projects. It begins by defining BIM and explaining its purposes and misconceptions. It then discusses who is typically involved in BIM, including owners, architects, engineers, suppliers, and contractors. The document outlines key risks for these parties, such as intellectual property, insurance, professional terms of engagement, and coordination of the BIM model. It also discusses opportunities that BIM presents if risks are properly managed, such as increasing efficiency and completing projects on time and on budget. The document concludes by advising embracing change, seizing opportunities, and differentiating services to realize BIM's benefits.