International Construction Measurement Standards welcomed locally

By | 2018-10-12T10:46:42+00:00 October 12th, 2018|News|

The Association of South African Quantity Surveyors (ASAQS) has teamed up with a host of global professional and not-for-profit organisations to develop and implement the International Construction Measurement Standards (ICMS).

Adoption of the ICMS means that construction costs will be presented in the same way whether at a local or international level. Credit: Creative Commons

As a new, high level international standard, the ICMS aims to provide greater global consistency in benchmarking, classifying, defining, measuring, analysing and presenting construction costs.

Representing the ASAQS in the ICMS coalition, ASAQS EduTech director Karl Trusler says that a global standard in cost reporting will benefit South African quantity surveyors, developers, and other professionals in the built environment.

“When there is global consistency in how the construction costs of a project are represented, investors and clients are able to compare apples with apples,” explains Trusler. “Through the introduction of a standardised cost reporting template, the ICMS is succeeding in creating a common language for the global built environment.

“Regardless of where they are based, clients can use the ICMS as a guideline to determine where in the world they should develop their projects to achieve the best returns thanks to the consistency and benchmarking it provides. It has the potential to level the playing field globally,” says Trusler.

The way that construction project cost reporting has been presented to clients, developers and investors in the past can vary from country to country and even within countries. Adoption of the ICMS means that construction costs will be presented in the same way whether at a project, regional, state, national or international level.

“The stand-out benefit is that real comparisons of construction projects can be made, and these comparisons will guide more informed decision making. An increasing number of local Quantity Surveyors are becoming involved in projects across our borders into the rest of Africa and beyond. To become and remain globally relevant, they should seek to do their reporting in an internationally standardised way. The ICMS speaks to this need,” says Trusler.

Trusler notes the adoption of the ICMS is still very new in South Africa. “Like any initiative in the built environment, there are early adopters, but the majority of South African professionals in the built environment are waiting to see what the uptake will be. While the larger multidisciplinary practices may adopt the ICMS quicker, the majority of smaller practices in South Africa would be more cautious. Basically, all practices make use of some form of a cost reporting system so to become ICMS compliant, they would need to align their reports to the ICMS cost reporting template.”

Through education, the ASAQS aims to promote the adoption of the ICMS. “Across the globe, the ICMS is beginning to gain momentum through the efforts of local organisations. Lobbying at government level is a priority because government adoption will go a long way towards cementing the ICMS as the national standard within countries,” concludes Trusler.