cameron,
bim is for the efficiency in design and in the construction, the best way to do it is to couple both in the ipd (integrated project delivery) process.
in order to model properly as a designer (architect or consultant designer) you'd have to communicate with professionals dealing with the 3d (geometry), 4d (time), 5d (costs), and 6d (energy and environment) bim, just for the starters.
i consult my projects with users of 4d and 5d software, especially the latter one, in order to enable them use my ifc model for takeoffs and cost control.
my software of choice is the polish (recently also international) bimestimate (http://bimestimate.eu/en/).
if you're using another 5d software (probably so), please contact the vendor or the users to benefit from their experience in importing the ifc models into their application. the reason is the proper connection to local price databases with proper local building materials.
imho forget the worksheet exports from the software (they are useful, but still not entirely live connected to the model), concentrate on the ifc with proper parameters in the ifc entity psets, as it's one of the most common import formats into the bim evaluation software packages, and also into the bim management ones (solibri model checker, navisworks).
rob