BIM is a new approach to construction that is being marketed. This paper describes the application of the BIM approach in designing the building example of Pannonian Wood Center of Competence in Virovitica. In the introductory part of the paper, the notion of multidimensional modeling of the project was highlighted with the emphasis on linking the 3D model of buildings with time information (4D) and cost (5D). Described are the properties of laminated wooden constructions as well as the technology of assembly of constructive elements. There is also mentioned examples of prefabricated wooden constructions in Croatia and the world. After the theoretical work, there is presented the process of designing the 3D model of the Pannonian Wood Competence Center (PDCK) in Graphisoft ArchiCad 20. In the first step was developed an initial model in accordance with the existing state and project documentation and an alternative model with the aim of shortening the time of construction and cost reduction, with prefabricated wooden facade panels. The 5D model was used to construct a construction simulation that allows visual monitoring of building dynamics, error detection in a schedule of activities, and comparison of the dynamics of building two front end variants. The advantages of BIM have been utilized with regard to the ability to quickly estimate costs and time by comparing different scenarios of work execution and material selection.