International Construction Measurement Standards (ICMS) - Revision history

Designing Buildings at 07:40, 12 November 2020

2020-11-12T07:40:06Z

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	* [https://icms-coalition.org/ ICMS-Coalition.org]		* [https://icms-coalition.org/ ICMS-Coalition.org]

−	[[Category:~~International~~]] [[Category:~~Organisations~~]] [[Category:DCN_Organisation]] [[Category:~~Standards_/_measurements~~]] [[Category:~~DCN_Standard~~]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Organisation]] [[Category:DCN_Standard]] [[Category:International]] [[Category:Organisations]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]]

165.225.81.58 at 16:11, 3 December 2019

2019-12-03T16:11:45Z

← Older revision		Revision as of 16:11, 3 December 2019
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	The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and then used as the primary standard for reporting on construction costs locally and globally.		The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and then used as the primary standard for reporting on construction costs locally and globally.
		+
		+	In September 2019, ICMS was extended to cover life cycle costs and further civil engineering entities.

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =
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	* [https://icms-coalition.org/ ICMS-Coalition.org]		* [https://icms-coalition.org/ ICMS-Coalition.org]

−	[[Category:International]] [[Category:Organisations]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]]	+	[[Category:International]] [[Category:Organisations]] [[Category:DCN_Organisation]] [[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Cost_/_business_planning]]

Editor at 16:03, 22 October 2018

2018-10-22T16:03:15Z

← Older revision		Revision as of 16:03, 22 October 2018
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	The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and then used as the primary standard for reporting on construction costs locally and globally.		The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and then used as the primary standard for reporting on construction costs locally and globally.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* BCIS.		* BCIS.
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	* Cost engineering.		* Cost engineering.
	* Cost plans for construction projects.		* Cost plans for construction projects.
		+	* International Fire Safety Standards Coalition (IFSS).
	* International Property Measurement Standards.		* International Property Measurement Standards.
	* Measurement.		* Measurement.

Editor at 14:28, 15 June 2017

2017-06-15T14:28:19Z

← Older revision		Revision as of 14:28, 15 June 2017
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	It was established by the International Construction Measurement Standards Coalition (ICMSC), which is a group of more than 40 professional and not-for-profit organisations. The Coalition was launched at the International Monetary Fund (IMF) in Washington D.C. in 2015.		It was established by the International Construction Measurement Standards Coalition (ICMSC), which is a group of more than 40 professional and not-for-profit organisations. The Coalition was launched at the International Monetary Fund (IMF) in Washington D.C. in 2015.

−	The Coalition points to the fact that the reporting and costing methods used in the construction industry have significant variance according to the market. This means that comparing projects around the world difficult, investment risk is increased, and transparency is impeded. They argue that this causes ‘huge problems for cost consultants, quantity surveyors, construction economists and cost engineers around the world’. Creating a common standard, they suggest, will improve transparency, investor confidence and public trust.	+	The Coalition points to the fact that the reporting and costing methods used in the construction industry have significant variance according to the market. This means that comparing projects around the world difficult, investment risk is increased, and transparency is impeded.
		+
		+	They argue that this causes ‘huge problems for cost consultants, quantity surveyors, construction economists and cost engineers around the world’. Creating a common standard, they suggest, will improve transparency, investor confidence and public trust.

	Other benefits they identify include:		Other benefits they identify include:

Designing Buildings at 16:42, 11 May 2017

2017-05-11T16:42:44Z

← Older revision		Revision as of 16:42, 11 May 2017
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−	The International Construction Measurement Standards (ICMS) is an international standard which aims to provide greater global consistency in construction costing.	+	[https://icms-coalition.org/ The International Construction Measurement Standards] (ICMS) is an international standard which aims to provide greater global consistency in construction costing.

	It is not a detailed method of measuring construction works, but ‘a high level benchmarking and reporting framework for international cost classification, reporting and comparison.’		It is not a detailed method of measuring construction works, but ‘a high level benchmarking and reporting framework for international cost classification, reporting and comparison.’

Designing Buildings at 16:42, 11 May 2017

2017-05-11T16:42:04Z

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−	The International Construction Measurement Standards (ICMS) is an international standard which aims to provide greater global consistency in construction ~~costs~~.	+	The International Construction Measurement Standards (ICMS) is an international standard which aims to provide greater global consistency in construction costing.

−	It is ~~described as being,~~ not a detailed method of measuring construction works, but ~~instead~~ ‘a high level benchmarking and reporting framework for international cost classification, reporting and comparison.’	+	It is not a detailed method of measuring construction works, but ‘a high level benchmarking and reporting framework for international cost classification, reporting and comparison.’

−	It ~~has been~~ established by the International Construction Measurement Standards Coalition (ICMSC), which is a group of ~~over~~ 40 professional and not-for-profit organisations. The Coalition was launched at the International Monetary Fund (IMF) in Washington D.C. in 2015.	+	It was established by the International Construction Measurement Standards Coalition (ICMSC), which is a group of more than 40 professional and not-for-profit organisations. The Coalition was launched at the International Monetary Fund (IMF) in Washington D.C. in 2015.

−	The Coalition points to the fact that the reporting and costing methods of construction ~~projects~~ have significant variance according to the market. This ~~lack of a uniform approach~~ means that comparing projects around the world ~~is made~~ difficult, investment risk is increased, and transparency is impeded.	+	The Coalition points to the fact that the reporting and costing methods used in the construction industry have significant variance according to the market. This means that comparing projects around the world difficult, investment risk is increased, and transparency is impeded. They argue that this causes ‘huge problems for cost consultants, quantity surveyors, construction economists and cost engineers around the world’. Creating a common standard, they suggest, will improve transparency, investor confidence and public trust.

−	~~They argue that this lack of a common language and framework causes ‘huge problems for cost consultants, quantity surveyors, construction economists and cost engineers around the world’.~~	+	Other benefits they identify include:

−	~~By implementing a common standard, the Coalition intends that transparency, investor confidence and public trust in the construction sector will be enhanced. Other benefits that they identify include:~~	+	* Improved investment and funding decisions.
−		+
−	* ~~Better~~ investment and funding decisions ~~possible~~.	+
	* Improved cost prediction and management.		* Improved cost prediction and management.
−	* ~~Consistent~~ accounting.	+	* More consistent accounting.
−	* ~~Construction costs will be capable of being consistently~~ and ~~transparently benchmarked~~.	+	* Consistent and transparent benchmarking.
−	* ~~Identification possible of~~ the causes of differences in costs between projects.	+	* Improved ability to Identify the causes of differences in costs between projects.
−		+
−	The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and used as the primary standard for reporting on construction costs locally and globally.	+
−		+
−	The Coalition is open to participation from any organisation which has a role in developing cost measurement standards within the construction industry. Expressions of interest are welcome by contacting any member of the ICMS Board of Trustees, or by emailing [mailto:info@icms-coalition.org info@icms-coalition.org].	+

−	~~Organisations~~ that ~~meet~~ the ~~criteria must sign a non-legally binding declaration~~, ~~acknowledging their ongoing commitment to ICMS’ development~~ and ~~implementation~~.	+	The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and then used as the primary standard for reporting on construction costs locally and globally.

	= Find out more =		= Find out more =

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2017-05-11T11:08:24Z

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The International Construction Measurement Standards (ICMS) is an international standard which aims to provide greater global consistency in construction costs.

It is described as being, not a detailed method of measuring construction works, but instead ‘a high level benchmarking and reporting framework for international cost classification, reporting and comparison.’

It has been established by the International Construction Measurement Standards Coalition (ICMSC), which is a group of over 40 professional and not-for-profit organisations. The Coalition was launched at the International Monetary Fund (IMF) in Washington D.C. in 2015.

The Coalition points to the fact that the reporting and costing methods of construction projects have significant variance according to the market. This lack of a uniform approach means that comparing projects around the world is made difficult, investment risk is increased, and transparency is impeded.

They argue that this lack of a common language and framework causes ‘huge problems for cost consultants, quantity surveyors, construction economists and cost engineers around the world’.

By implementing a common standard, the Coalition intends that transparency, investor confidence and public trust in the construction sector will be enhanced. Other benefits that they identify include:

* Better investment and funding decisions possible.
* Improved cost prediction and management.
* Consistent accounting.
* Construction costs will be capable of being consistently and transparently benchmarked.
* Identification possible of the causes of differences in costs between projects.

The Coalition anticipates that ICMS will be implemented globally through proactive engagement by the Coalition members with relevant stakeholders. It will be used alongside existing standards initially, with the expectation that it will become established over time in construction markets and used as the primary standard for reporting on construction costs locally and globally.

The Coalition is open to participation from any organisation which has a role in developing cost measurement standards within the construction industry. Expressions of interest are welcome by contacting any member of the ICMS Board of Trustees, or by emailing [mailto:info@icms-coalition.org info@icms-coalition.org].

Organisations that meet the criteria must sign a non-legally binding declaration, acknowledging their ongoing commitment to ICMS’ development and implementation.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* BCIS.
* Construction costs.
* Cost engineering.
* Cost plans for construction projects.
* International Property Measurement Standards.
* Measurement.
* Quantity surveyor.
* Whole life costs.

=== External resources ===

* [https://icms-coalition.org/ ICMS-Coalition.org]

[[Category:International]] [[Category:Organisations]] [[Category:Standards_/_measurements]] [[Category:Cost_/_business_planning]]