The CIOB has has joined more than 30 professional bodies from across the globe in the International Construction Measurement Standards (ICMS) coalition.
The new worldwide initiative was officially launched at the International Monetary Fund (IMF) in Washington DC in June.
The coalition was established by a number of non-profit organisations representing professionals in more than 140 countries worldwide.
The initiative aims to harmonise cost, classification and measurement definitions, in order to enhance the consistency and comparability of capital projects.
This is not a paywall. Registration allows us to enhance your experience across Construction Management and ensure we deliver you quality editorial content.
Registering also means you can manage your own CPDs, comments, newsletter sign-ups and privacy settings.
As an industry that is estimated to be worth a staggering $15 trillion by 2025 – according to Global Construction Perspectives – inconsistency has the potential to create uncertainty, misunderstanding and risk.
It is expected that the ICMS coalition will continue to grow as additional organisations acting in the interest of professionals join the effort to align high-level measurement principles.
Industry corporations, contractors and government stakeholders will be encouraged to adopt the new international framework and readily incorporate the standards into a number of capital projects.
Eddie Tuttle, the CIOB’s senior policy and public affairs manager, said: “As a professional body, the CIOB is delighted to join the ICMS coalition and be at the forefront of devising and developing measurement standards in construction.
“Given the socio-economic importance of the industry, it is imperative to work towards internationally recognised standards and minimise the prevalence of risk. This coalition represents a fantastic vehicle for change, and we look forward to working with our partners to develop internationally agreed standards in the near future.”
Organisations that have already signed the declaration to become joint members of the ICMS Coalition include:
- Association for the Advancement of Cost Engineering (AACE)
- Association of Cost Engineers (ACostE)
- Association of South African Quantity Surveyors (ASAQS)
- China Engineering Cost Association (CECA)
- The European Council of Construction Economists –Conseil Europeen des Economists de la Construction (CEEC)
- Canadian Institute of Quantity Surveyors (CIQS)
- Federation Internationale des Geometres (FIG)
- Ghana Institute of Surveyors (GhIS)
- African Association of Quant Surveyors (AAQS)
- International Cost Engineering Council (ICEC)
- Institute of Engineering and Technology (IET)
- Nigerian Institute of Quantity Surveyors (NIQS)
- Pacific Association of Quantity Surveyors (PAQS)
- Philippine Institute of Certified Quantity Surveyors (PICQS)
- Royal Institution of Chartered Surveyors (RICS)
- Society of Chartered Surveyors Ireland (SCSI)
- Union Nationale des Economistes de la Construction (UNTEC)
