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News & Press: 2016 News Items

Launch of public consultation for ICMS which will improve confidence and save money

Tuesday, 29 November 2016  
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ICMS

Against a backdrop of tightening public purse strings and growing investment demand, construction industry leaders have joined together to set out a radical new approach to calculate costs for the world’s building and civil engineering projects.

Today, the International Construction Measurement Standards (ICMS) Coalition, a group of over 40 professional bodies established at the IMF in Washington D.C. in 2015, is calling for professionals to support the collaboration and help embed common standards at the heart of construction investment.

To tackle this problem, the ICMS Coalition is leading the creation of a universal system measuring the cost of construction projects which will allow comparisons to be made on a like-for-like basis between countries.

The ICMS Coalition, of which the ASAQS is a member, is a rapidly growing partnership of leading organisations from around the world, committed to producing and supporting consistent shared standards for construction costs

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.”

“This draft international standard presents huge opportunities for the global cost management profession. The current lack of consistency in construction leads to misunderstanding and uncertainty which inhibits sounds investment decisions. We’ve worked hard to get the new standard to this point and we now need to hear from cost consultants, quantity surveyors and civil engineers around the world.”

THE ASAQS invites you to comment on the draft standard by visiting: www.icms-coalition.org/consultation

Should you have any queries, please contact Professor Tinus Maritz who is the ASAQS representative at the ICMS Coalition meetings on (012) 420 4972 or tinus.maritz@up.ac.za