Leaders from Madrid, Tokyo, Chicago and Rio de Janeiro are in Lausanne for one of their last chances to impress IOC members before they vote in October.
The cities have been asked to focus on technical details of their bids.
Correspondents say budget plans and finances will come under extra scrutiny due to the global economic turndown.
About 90 of the IOC’s 107 members are expected to attend the meeting.
Speaking on the eve of the presentations, IOC president Jacques Rogge said that although members would be looking for financial assurances, the commercial strength of the candidates should not be the key issue for selecting the host city.
“Economics should not drive our decision,” Mr Rogge said at the end of a two-day IOC executive board meeting.
“Frequently in the past we did not necessarily go for the richest city and I believe we were right to do that.”
He added: “Ultimately it is not the economics but leaving a sustainable legacy. When we leave, we want it to be a bonus for the city, the region and the country.”
The race to host the 2016 Olympics has been described as one of the closest in history.
Chicago, with President Barack Obama’s support, is perhaps a slight favourite.
Wednesday’s presentations are unlikely to make or break a candidate, but at such a late stage of the bidding process they will be desperate to deliver a flawless performance.
Bid cities will have 45 minutes to make their case, followed by a 45 minute question and answer session. The following day, the members can visit the bid teams in their hotel suites.
IOC delegates have been barred from visiting candidate cities since the Salt Lake City bribes-for-votes scandal in 1999, so this week’s programme was arranged to give the bid teams direct contact with the members.