There are many interests and researches among an industry as IT develops. It is important to use information effectively and adequately as applying IT to industry because IT provides an innovative strategy for the enterprise. In case of manufacturing industry, many business solutions (e.g. SCM, CRM, ERP, PLM etc) have developed for years. However in case of construction industry, it was hard to develop a business solution due to various differences compared to other industries. This paper presents the need for a customized PLM system implemented in the construction industry for the purpose of its sustainable information storage and transfer. It also investigates the functional factors for such system and the expected effectiveness when fully operated. Keyword PLM (Product Lifecycle Management), ILM (Information Lifecycle Management), CPLM (Construction Project Lifecycle Management)