ICMS 2nd Edition Launch
Building on the growing global adoption of ICMS, the first International Construction Reporting Standard that was officially launched in July 2017 at the 21st Annual PAQS Conference hosted in Vancouver BC. The second edition of the International Construction Measurement Standards (ICMS 2) has been developed by a global coalition of nearly 50 professional organizations, including CIQS.
The launch marks the culmination of two years’ collaboration between the Coalition and 27 experts on the Standards Setting Committee that included Canadians Roy Howes and Brian McBurney.
ICMS aims to provide global consistency in classifying, defining, measuring, recording, analysing and presenting entire construction and other life cycle costs at a project, municipal, provincial, national or international level.
The ICMS 2nd edition will help improve financial management by standardising cost reporting, improving cost prediction and control data, and aiding forensic analysis of construction costs. The second edition of ICMS can be used to report and compare the Acquisition Costs, Construction Costs, Renewal Costs, Operation Costs, Maintenance Costs, and End of Life Costs of a project.
A copy of the International Construction Measurement Standards, 2nd edition and more information can be found by clicking the link below.
Craig Bye, PQS(F), MRICS