In the contemporary construction management, poor project performance, cost overrun, and low-quality construction have become a central point of attention for improving project performance including information, interaction and communication management. virtual design and construction and building information modelling play indispensable role in improving the project performance. The aim of this study is to propose a Virtual Information Modeling as a novel information and communication technology method with potential to overcome problems in the construction industry. Using one-sample t test with Kolmogorov-Smirnov approach, we analysed data collected from structured questionnaire survey involving project managers working at architecture, engineering and construction industries in Tehran, Iran. The results suggest that the most important benefits and challenges of using Virtual Information Modeling are related to the area of integration, and implementation of Virtual Information Modeling has the greatest impact on this area of project management knowledge. Thus, integration should be considered a top priority for construction companies implementing Virtual Information Modeling in their projects. Policymakers should understand that careful management of virtual information is essential for improving the performance of projects and enhancing the process efficiency.