A consultation has begun on the International Construction Measurement Standards which aims to standardize how construction projects are measured to improve consistency and reduce risk in the industry.
It is being promoted by a group of over 40 industry groups around the world under the ICMS Coalition, established at the IMF in Washington DC; it wants a universal system for measuring the cost of construction projects which will allow comparisons to be made on a like-for-like basis between countries.
“Today is an important day for the global construction market because we are one step closer to achieving consistency across the industry,” commented Ken Creighton, Chair of the ICMS Coalition.
He added “We are seeking input from professionals and all stakeholders in the built environment to help draft this landmark standard and establish international best practice.”
Stakeholders can add their comments on the ICMS Coalition website
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
A drive towards a set of consistent standards for the global construction sector has been launched today (Nov. 21).