BIM modelling from survey data starts from a point cloud: it measures the asset as it is today, with known tolerances. Existing conditions modelling starts from the documents: it rebuilds the asset from what was drawn and approved, and uses the survey only where the documents are not enough or need confirming.
The two approaches are often combined: archive drawings provide structure, hidden building services and data that a point cloud cannot see; the survey confirms geometry and changes. The choice depends on the uses of the model and on the quality of the documents, and it is made before starting.