(INT-2480) The Development of an International Construction Measurement Standard (ICMS)
Authors: Dr. Phillip D. Larson, CCP CEP PSP FAACE; Martin R. Darley, CCP
Abstract: The ICMS (International Construction Measurement Standard) Coalition is a growing group of more than forty (40) professional, and non- profit organizations from around the world, working together to develop and implement international standards for benchmarking, measuring and reporting construction project costs. At present, the way in which construction costs are reported and costed varies significantly from one region to the next. These differences make it difficult to compare projects around the world, increasing investment risk and impeding transparency. The Coalition seeks to develop and implement a common standard for construction measurement which will enhance that transparency, along with investor confidence and public trust in the sector. The paper will look at the historic need for a standard and the workings of the coalition and provide an update on the much anticipated international standard.