ICMS launches global public consultation system
The ICMS Coalition is leading the creation of a universal system for measuring the cost of construction projects
The ICMS Coalition is leading the creation of a universal system for measuring the cost of construction projects, allowing comparisons to be made on a like-for-like basis between countries.
Close to $78tn is expected to be spent on infrastructure globally between 2014 and 2025. With this, the way construction project costs are measured varies enormously, hampering decision making and creating barriers to investment.
As a result, this draft international standard presents huge opportunities for the global cost management profession, says Robert Jackson, RICS Regional Director.
Ken Creighton, Chair of the ICMS Coalition, said: “Today is an important day for the global construction market because we are one step closer to achieving consistency across the industry.
“We are seeking input from professionals and all stakeholders in the built environment to help draft this landmark standard and establish international best practice.”
The ICMS Coalition is a rapidly growing partnership of leading organisations from around the world, committed to producing and supporting consistent shared standards for construction costs.