The level of detail describes the proportion of details encompassed by the model elements, but the level of development in BIM specifies the extent of thought put into developing the specifications and geometry of the elements in a model.

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Level of Development (LOD) in BIM: a Detailed Overview
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Level of Development (LOD) in BIM: a Detailed Overview

Level of Development (LOD) is a set of standards devised for Architectural, Engineering and Construction professionals.