Present day value
ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition, November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines the present day value as the: ‘Monies accruing in the future which have been discounted to account for the fact that they are worth less at the time of calculation (ISO 15686-5).’
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