The consultation for the International Construction Measurement Standards has now closed.

What is ICMS?

  • ICMS is a highly significant and ground-breaking standard for cost management of construction projects globally and we would like you to comment on the second draft standard when it is released for consultation.

Why do we want to hear from you?

It is imperative that the business management of construction is improved to optimise world resources. Why?

  • Global construction is forecast to grow 85% to USD17.5 trillion by 2030. It will then account for 15% of world output.

The lack of a uniform approach can lead to confusion and the inability to compare property on a like-for-like basis. ICMS achieves this by standardising the high level presentation of costs on projects. Benefits:

  • More effective global cost comparisons
  • Better investment and funding decisions
  • Improved cost prediction and management
  • Consistent accounting