International Construction Measurement Standards establish a single, globally agreed approach that sets out how to report, group and classify construction project costs in a structured and logical form. This course will delve deeper into the structure of ICMS, and explore how to apply the ICMS User guide to your projects.
Note: The start date is subject to change depending on number of attendees for this course and at the discretion of RICS.
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ICMS is a cost classification system. This project is the first of its kind with global coverage, bringing together numerous organizations from around the world to create shared international standards for presenting consistent construction costs. An improved global alignment in the calculation of construction costs will bring significant benefits to construction cost management.
Globalization of the construction business has increased the need to make meaningful comparative analysis between countries, not least by international organizations such as the World Bank Group, the International Monetary Fund, various regional development banks, non-governmental organizations and the United Nations.
In this half day face to face course, you will learn how ICMS is practically applied. The instructor will review the ICMS user guide and relevant document tools, illustrate in principle and through real life case studies how to apply ICMS in relevant projects.
The context and purpose of ICMS
ICMS Uses and Limitations
Structure, format and layout of ICMS and the User Guide in detail (includes practical breakout sessions)
Estimating staff, Contract administrators, project managers and commercial managers looking to understand how the ICMS functions and how to apply it to their projects.
This class will be delivered in a four hour in-person workshop which includes instructor led PowerPoint slides with practical breakout sessions, interactive discussions and activities integrated throughout to support your learning.
Application of the ICMS in Toronto
Application of the ICMS in NYC
ICMS stands for International Construction Measurement Standards. It is a new, high-level international standard that aims to provide greater global consistency in the classification, definition, measurement, analysis and presentation of construction costs at a project, regional, state, national or international level. It is a benchmarking and reporting framework for international cost classification, reporting and comparison.
Construction costs to be consistently and transparently benchmarked Identification of the causes of cost differences between projects More informed decision-making about the design and location of construction projects More confident use of data for construction financing and investment, decision-making and related purposes Standardized, BIM-friendly classifications for cost data collection to inform subsequent cost prediction
ICMS will be used throughout the Americas including Canada, United States, Caribbean and Latin America as well as around the world.
Read more about the importance of these standards.