Building information modelling (BIM) has been implemented in many utility-based organisations worldwide, and it has proved to provide substantial cost- and time-saving benefits and improved performance and asset management especially during the operations and maintenance (O&M) phase. BIM adoption and implementation success rely on the accurate asset information stored in BIM models, mainly for existing assets. However, the asset information stored in asset management systems is often inaccurate, incomplete, out of date, duplicated or missing. Capturing the accurate as-is conditions of existing buildings has become feasible with the recent advancement of point cloud from 3D laser-scanning, resulting in a shift from ‘as-designed’ BIM to ‘as-constructed’ BIM. The potential benefits of using as-constructed BIM models for facility operations are compelling. This paper identifies the cost and benefit elements of the scan-to-BIM process as part of a case study research project at a water treatment plant (WTP) in South East Queensland, Australia. The paper develops association mapping between the cost and benefit elements for relevant stakeholders and identifies the critical asset information for effectively managing the WTP case selected. Furthermore, the paper investigates the impact of various levels of detail (LOD) and levels of information (LOI) on BIM applications depending on the project and asset requirements. Finally, this paper presents a framework that water asset owners and stakeholders can utilise to obtain value from investing in scan-to-BIM for existing facilities.