17 JUN 2018
To demonstrate to regional stakeholders how the International Construction Measurement Standards (ICMS) can be used effectively in Qatar, RICS and Turner and Townsend Qatar, a global supporter of the ICMS, conducted a mapping exercise of the commonly used Civil Engineering Standard Method of Measurement (CESMM), to ICMS.
Since its launch in July 2017, ICMS has been mapped extensively against many other globally recognised methods of measurement, including NRM, Uniclass and MRM, however, it had not been mapped to the regionally recognised CESMM.
To complete this exercise and show the market how ICMS ‘looked’, RICS approached Turner and Townsend, a global supporter of ICMS with a strong local presence, to complete a mapping exercise on a roads and highways project.
Created by the ICMS Coalition, an independent standard setting committee of non-governmental and not-for-profit organisations including RICS; ICMS enables comparison of costs to improve investor confidence and attract more private sector funding.
It provides consistency in classifying, defining, measuring, analysing and presenting construction costs at project, national, regional and international level.
ICMS enables comparison of costs to improve investor confidence and attract more private sector funding.
Until ICMS was launched, it had been almost impossible for governments and investors to compare construction costs like for like, and therefore to know if public infrastructure projects demonstrate good value or not.
"ICMS is a unique cost comparison mechanism that drives improved decision making across the construction sector. It allows governments to determine the optimal locations and timing for development and assesses the overall efficiency of the construction sector. We were delighted to work alongside T&T to ensure stakeholders in Qatar can utilise ICMS and realise the benefits it can bring to improving consistency and transparency," said Mairead Hughes, Qatar Country Manager, RICS.
Different approaches to presenting construction costs can lead to an inconsistent methodology which causes significant variations and spurious cost comparisons. In some countries, there are no standards at all creating barriers to Foreign Direct Investment.
As a result of the mapping exercise, governments, developers, financial institutions, practitioners and investors will be able to adopt and implement ICMS with more ease in the region.
The mapping can facilitate stakeholders in assessing the projects ‘value for money’ and viability of the local construction sector, while also providing a benchmark for the ‘footprint’ for which the sustainability of a construction project can be measured.