This chapter explores the critical role of Information Management (IM) within the construction industry, mapping its lifecycle and examining diverse management methods. It investigates traditional systems, Computer-Integrated Construction, Continuous Acquisition and Life-Cycle Support, and Project Management Information Systems, highlighting their evolution and integration. Major challenges, including issues related to design data, cost, operational inefficiencies, and workforce limitations, are identified through academic and industry research, particularly noting legacy systems, inadequate technological infrastructure, and leadership shortfalls as key impediments. Conversely, the chapter demonstrates how effective information management delivers tangible benefits: enhanced communication, streamlined contact points, operational efficiency, improved cost and schedule control, and amplified market insights. The analysis underscores the transformation of IM from a primarily administrative process to a strategic capability that supports project success, organisational performance, and competitive advantage. The chapter concludes by distilling practical lessons for industry stakeholders seeking to bridge the gap between theoretical best practices and real-world application.