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International Construction Measurement Standard

International Construction Measurement Standard

The ICMS is a common standard for construction measurement that will enhance transparency in cost management and develop investor confidence and public trust in construction.

The lack of a uniform approach can lead to confusion and the inability to compare construction cost on a like-for-like basis. ICMS achieves this by standardising the high level presentation of costs on projects and provides:

  • More effective global cost comparisons
  • Better investment and funding decisions
  • Improved cost prediction and management
  • Consistent accounting

The RIBA is a member of the International Construction Measurement Standards Coalition (ICMSC), a growing group of more than 40 professional and not-for-profit organisations from around the world, working together to develop and implement international standards for benchmarking, measuring and reporting construction project cost.

Global construction is forecast to grow 85% to 17.5 trillion US Dollars by 2030. It will then account for 15% of world output. For architects, understanding cost reporting is an essential business skill.

Visit the ICMS website to download the Standard and comment on consultations.

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