ABOUT ICMS International Construction Measurement Standards
The International Construction Measurement Standards Coalition (ICMSC) is 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.
At present, the way construction projects are reported and costed varies significantly from one market to the next. These differences make it difficult to compare projects around the world, increasing investment risk and impeding transparency.
Many of the organisations that today set standards and guidelines on how construction projects are measured came together at the International Monetary Fund (IMF) in Washington D.C. in 2015 to launch the ICMS Coalition.
The Coalition has developed and implement a common standard for construction measurement which enhances transparency, investor confidence and public trust in the sector.
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Global Consistency in Presenting Construction Costs
The International Construction Measurement Standards (ICMS) Coalition are pleased to publish the final version of the ICMS standard.
45 other organisations from around the world have joined together to create a new universal system that, for the first time, enables global comparison of construction project costs on a like-for-like basis between countries. The launch marks the culmination of two years’ collaboration between the Coalition and 27 experts on the Standards Setting Committee.
Arup, Arcadis, Gardiner and Theobold, Faithful+Gould, Turner & Townsend and Gleeds are among leading organisations publically announcing their support for ICMS by registering as ICMS “Partners” committing to its future use. The new standard enables better comparison in order to improve investor confidence and attract more private sector funding.
Since first meeting at the International Monetary Fund in Washington DC in 2015, the ICMS Coalition has led three public consultations; the draft standard has been downloaded thousands of times and hundreds of professionals from around the world have gave feedback.
The Role of ICMS