To address the issues of digital data consistency, RICS has developed a suite of Data Standards that work in parallel with our International Standards and Professional Statements, to ensure the quality and consistency of data.
Whether using current technology platforms and tools, or emerging technologies such as Blockchain, only a combination of RICS Professionals working to RICS Standards, coupled with the implementation of RICS Data Standards can provide data that is both consistent and reliable.
Implementing RICS Data Standards ensures that data is captured, verified and shared both within organizations, and across external stakeholders.
What's currently available?
RICS have produced data standards for two international standards, with more in the pipeline. The two currently available are:
International Construction Measurement Standards (ICMS)
International Property Measurement Standards (IPMS)
How to implement these standards
To enable all market participant to produce, receive and exchange data in a common format, the RICS Data Standards use XML to produce an XSD schema that defines the architecture and format of the data defined by the International Standard itself.
This schema sets a common format with the various data items tagged appropriately with details on the format of each data item, and where relevant, restrictions on the values that a data item may have. The schemas are flexible and extensible allowing some items to be mandatory and others optional, depending on their availability and importance.
The schema can be viewed graphically and on a detailed line-by-line basis by IT specialists to map data across from existing systems, as well as producing code to export and import data in this common format. RICS will provide support to help stakeholders understand and implement the standard at a commercial and technical level.
RICS Data Standards are freely available as a suite of XML files together with detailed documentation in the form of pdf documents. When combined with the RICS documents describing ICMS, IPMS etc., they provide guidance for project sponsors when communicating requirements to service providers.
RICS can provide support on the implementation of the XML schemas and mapping between ICMS and other cost structures, as well as mapping IPMS to other measurement standards. For further information and technical details please contact datastandards@rics.org
