Drawing on resource dependence theory, this paper develops and empirically tests a model for understanding how the implementation of building information modeling (BIM) in construction projects impacts the performance of different project participating organizations through improving their interorganizational collaboration capabilities. Based on two sets of survey data collected from designers and general contractors in BIM-based construction projects in China, the results from partial least squares analysis and bootstrapping mediation test provide clear evidence that BIM-enabled capabilities of information sharing and collaborative decision-making as a whole play a significant role in determining BIM-enabled efficiency and effectiveness benefits for both designers and general contractors. The results further reveal that designers and general contractors benefit from project BIM implementation activities significantly non-equivalently, and that this non-equivalence closely relates to the different roles played by designers and general contractors in BIM-enabled interorganizational resource exchange processes. The findings validate the resource dependence theory perspective of BIM as a boundary spanning tool to manage interorganizational resource dependence in construction projects, and contribute to deepened understandings of how and why project participating organizations benefit differently from the implementation of interorganizational information technologies like BIM.