Managing knowledge is the most important part of every enhanced process. Well-adjusted knowledge management leads to effective way of sharing knowledge, its comprehension, visualization and managing other processes connected to it. New trend in the field of Civil Engineering and Building Design is BIM – Building Information Modeling. Management of Building Information Modeling is very current topic linked with the creation of building modeling and knowledge sharing processes used by the Architecture, Engineering and Construction industry-AEC industry. BIM Technology uses a huge amount of data and information about the building throughout its lifecycle. We can divide the whole building lifecycle into three main phases: the phase of the project construction (design and realization), the operational phase and the liquidation phase. For effective project development, it is necessary to manage knowledge, the same in the phase of Facility Management and liquidation phase too. This paper reveals the possible way using Knowledge Management principles in the BIM Technology throughout building lifecycle and its phases.