The Standard

Download the latest version of the standard below

pdficon_small International Cost Management Standard, 2nd edition

Please also find a useful Excel template to assist with the preparation of ICMS cost reports.

ICMS 2 excel sheets_final draft_ICMS logo

Please also find a useful guide to ICMS

ICMS explained v2


Below are the translated versions of ICMS first edition.

While we are making all language versions of ICMS (first edition) available, it is important to note that this edition has been superseded by the second edition of ICMS published in September 2019. Please refer to this current version for all ICMS information and activities. Translations of the second edition are underway and will be available later in the year.

International Cost Management Standard: Global Consistency in Presenting Construction Costs (Spanish) – July 2017

ICMS Japanese Version

ICMS Chinese Version

ICMS Spanish Translation

Below are the translated versions of ICMS 2

Feedback process

Since first meeting at the International Monetary Fund in Washington DC in 2015, the ICMS Coalition has led three public consultations; the draft standard has been downloaded thousands of times and hundreds of professionals from around the world have gave feedback.

pdficon_small Responses to consultations and basis for conclusions

ICMS in practice

The below documents represent a selection of live examples where the presentation of the cost classification data is illustrated in a form that aligns with this ICMS standard. They have been adjusted as necessary to suit local circumstances.

The examples are taken from projects in Australia, Malaysia and Turkey.

ICMS is fast becoming adopted as a major global standard. The following are some quotes from the market:

“With cost data, consistency is important. Even within our own firm, with 14,000 staff at Arup and 92 offices around the globe, organising our own data so we can share it internally is hugely important. This comes from using ICMS. It allows us to benchmark data more accurately for our clients.”

Kevin O’Grady, Arup

“We ask, how do you know that project will deliver value for money for the taxpayer? With a project like the lower Thames crossing, we need to look around the globe to find comparable projects. This is where ICMS has a critical role.”

Martyn Gannicott, Highways England

“Billions of public dollars are being spent, so government clients need to gauge their performance. So government clients are very interested in ICMS and have a strong interest in promoting the standard.”

Susan Neil, Hanscomb

The role of ICMS