ICMS Trustees at the official launching ceremony of ICMS at Vancouver

The new International Construction Measurement Standards (ICMS) was launched on 24 July 2017. This ICMS is a universial system that will enable global comparison of construction project costs. 

The ICMS is prepared by the ICMS Coalition which is a growing group of more than 150 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. 

ICMS achieves this by standardising the high level presentation of costs on projects. This results in more effective global cost comparisons, better investment and funding decisions, improved cost prediction and management and more consistent accounting.

Please read more about the ICMS from the official press release and the infographics.