Cost estimation of construction projects is still carried out using highly manual traditional tools and processes, which are deemed as inefficient and have a direct impact in the productivity levels of the industry. Building Information Modelling or BIM is changing the way projects are developed and has introduced some changes to cost estimation. One of these changes is the possibility to generate semi-automatic quantity take-offs from BIM models, greatly speeding up the project quantification process. Furthermore, the concept of 5D BIM, or BIM with the addition of a cost “dimension”, aims to connect BIM and cost estimation. However, the participation of the cost engineer in BIM-based processes is still limited, and this actor frequently only appears at the end, to deliver single cost estimates. This study aims to observe and identify the possibilities of integrating cost engineers in BIM-based project development as a step towards reaching 5D BIM. The research is carried from a managerial and organizational perspective. The potential outcomes of the integration impact the process of cost estimation and other associated processes, namely project design and modelling, and project management and development. To conduct this study, a case study was carried out at a Dutch engineering company where interviews were carried out to respondents of different specialties. Activity theory was used as a theoretical framework for the analysis, discussion and development of a solution. Its use marks an interesting approach to the current problem as it provides the ground for simultaneous analysis of multiple activity systems to reach an integrative solution. The results support other studies that conclude cost engineers are detached from BIM-based project development. Furthermore, the results show that the integration of cost engineers in BIM-based project development has mainly positive potential outcomes for cost estimation and associated processes. It is, however, also concluded that at its current state BIM instruments alone are not fit to handle all information relevant to cost estimation, namely non-graphical elements. The research concludes that to achieve positive results from integration of cost engineers, it is required, a) 5D BIM specialized software, b) appropriate integration of actors in project development, and c) adoption of standards, mainly for development and use of three key tasks. The final deliverable of the research is a collaborative framework which is intended to provide the ground for the integration of cost engineers in BIM-based project development, aimed at reaching 5D BIM.