- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 03 Dec 2019
International Construction Measurement Standards (ICMS)
The International Construction Measurement Standards (ICMS) is an international standard which aims to provide greater global consistency in construction costing.
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.
Other benefits they identify include:
- Improved investment and funding decisions.
- Improved cost prediction and management.
- More consistent accounting.
- Consistent and transparent benchmarking.
- 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 then used as the primary standard for reporting on construction costs locally and globally.
 Related articles on Designing Buildings Wiki
- Construction costs.
- Cost engineering.
- Cost plans for construction projects.
- International Fire Safety Standards Coalition (IFSS).
- International Property Measurement Standards.
- Quantity surveyor.
- Whole life costs.
 External resources
Featured articles and news
Eight forms of resource optimisation.
CIOB responds to Chancellor Sunak's announcement on jobs and the economy.
Revised guide to competition rules available.
Brick slip soffit systems and intricate brick features.
An innovative engineering approach could have had tragic consequence for NYC.
Some secrets behind how canals work.
Breaking down possible steps of pre-contract management.
ICE event includes comments from Welsh Government Minister Julie James.
How to write them and what they should include.
Designing Buildings Wiki becomes the world's first website to adopt the new knowledge standard.
Assessing the most beneficial design elements.
Exploring different types of vinyl flooring.