Since the publication of the first edition in July 2017, the International Construction Measurement Standards (ICMS) have provided a single methodology for reporting, grouping and classifying construction project costs.
In response to industry feedback following the publication of the first edition of ICMS, the ICMS Coalition updated the standard to incorporate life cycle costs. International Construction Measurement Standards 2nd Edition enables practitioners to classify costs across the whole project life cycle, eliminating inconsistencies and discrepancies when accounting, comparing and predicting project finances.
About the International Construction Measurement Standards Coalition (ICMSC)
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. The ICMSC Standards Setting Committee comprises 27 independent experts from 17 countries. They were appointed by the coalition to draft, consult and produce the new International Construction Measurement Standards.
ICMS Explained, a user guide for the below International Construction Measurement Standards, is a technical document that sets out the purpose, context and philosophy of ICMS. This practical resource will equip quantity surveyors and cost consultants to deliver cost estimates and financial reports in line with ICMS. Practitioners will find the below guide valuable as a reference document to address questions of the terminology used and how ICMS rules could apply to a specific project situation. The user guide also sets out how ICMS is used in practice by drawing on and illustrating real examples of where it is already in use.
ICMS User Guide >
This guide provides the background, structure, content and potential use for ICMS, together with various appendices, which provide further and more detailed guidance and worked examples.