In the BIM world there is a new emerging acronym....LOD.
Some say this stands for Level of Detail. Others argue that Level of Detail is the old version and the new version is Level of Development. Based on my current involvement in a construction project where the Architect is leading, his definition of LOD suits both arguements. Also, speaking with collegues and other industry experts the resolution to this is quite simple.
LOD stands for both Level of Detail and Level of Development. How and where the acronym is used is dependant on the context of the discussion.
When talking about the graphical reperesentation of an object, you are discussing the Level of Detail.
When discussing both the graphical reprsentation and the information (properties) of the object, you are now talking about "Level of Development".
There are people out there that may have a different view which is fine. In the end, it's easier to describe both Level of Detail or Development then it is to define BIM.