AECO is struggling with data loss, inefficient processes and low productivity in asset management. The remedy to these problems seems to be the idea of Digital Twin (DT). However, the frameworks proposed so far do not always support a solution to these problems. This paper conducts an extensive literature review to develop a conceptual framework for the Operation and Maintenance (O&M) phase for cubic facilities. The conceptual framework takes into account the increasingly popular Internet of Things (IoT) and Artificial Intelligence (AI) technologies. The foundation, however, is Building Information Modeling (BIM) technology. The presented framework, after appropriate modifications, can also be applied to infrastructure facilities or city fragments. The paper presents limitations and directions for further research. The DT paradigm has been adopted and its adoption is ongoing. Its implementation will progress in the coming years. The advantages and benefits are certainly more numerous than the barriers and risks posed by the use of DT.