With the development and integration of Building Information Modeling (BIM) and Common Data Environment (CDE) in construction projects, the need for security and privacy management is essential. The relationship between the environment provider and the user requires a confidential relationship and adherence to standards. ISO 19650–5 provides guidelines for a security-aware approach to information management, but there is still a lack of clarity about how individual providers implement these guidelines. BIM and CDE environments contain sensitive information about construction projects, especially financial information, intellectual property, and personal data. Therefore, security and privacy should be top priorities for providers and users when choosing the right environment. It has become essential for users to evaluate each solution and make an informed decision about who they trust with their data. This paper provides an overview of the security and privacy mechanisms that need to be considered in information management, as well as the most common technologies and standards used to ensure the confidentiality, integrity, and availability of information. Mechanisms must be considered at multiple levels, including data and network security, identity and access management, physical security, and compliance with standards. Providers should be able to issue clear and concise information about their security policies and procedures, while users should be clear about their own security and privacy requirements and choose a solution that meets their needs. We examine the security policies of widely used BIM and CDE providers and assess the security and privacy mechanisms used in each tool.