About International Property Measurement Standards (IPMS)
The International Property Measurement Standards (IPMS) are developed by a group of more than 80 professional and not-for-profit organisations, working together to implement international standards for measuring property. Drafted by Standards Setting Committee (SSC), the IPMS establishes a consistent methodology for measuring buildings around the world and help users and related organisations have confidence in what to expect when they instruct a professional to measure their buildings.
All Buildings supersedes all previously published IPMSC standards for individual asset classes by utilising the concepts and objectives contained in those specific versions of IPMS into one harmonised standard. IPMS All Buildings is applicable to all types of Buildings independent of their use or their occupation.
IPMS are sufficiently flexible to apply to different purposes such as:
- Analysis and Benchmarking
- Property Financing
- Construction Cost Rates and Ratios
- Property Management
- Conversion between Measurement Standards
- Research
- Cost Allocation
- Summary Costing
- Insurance
- Sustainability & Energy Efficiency
- Planning and Architecture
- Valuation/Transactions (incl: leasing and sales)
- Property Development
The IPMS Coalition
The International Property Measurement Standards Coalition (IPMSC) comprises more than 80 property organisations representing hundreds of thousands of property professionals globally, working together to develop and implement international standards for measuring property to ensure that property assets are measured in a consistent way, creating a more transparent marketplace, greater public trust, stronger investor confidence, and increased market stability.
About International Cost Management Standard (ICMS)
Since the publication of the first edition in July 2017, the International Cost Management Standard (ICMS) has provided a single methodology for reporting, grouping and classifying construction project costs. In response to industry feedback following the publication of the first edition of ICMS, the ICMS Coalition updated the standard to incorporate life cycle costs. ICMS began with the first two versions of the standard covering cost for construction and the whole life cycle of infrastructure assets: With the built environment responsible for around 40% of the global carbon emissions, it is crucial that leaders have clear comparable data to achieve carbon and cost targets. The ICMS Coalition of 49 globally-prominent organisations has developed ICMS 3 – a world first for cost and carbon management in infrastructure.
ICMS 3 will contribute positively to efforts to decarbonise the construction sector in the most cost-effective way. Through ICMS 3, professionals will for the first time be empowered to deliver a globally consistent method for carbon life cycle reporting across construction projects, from buildings and bridges to ports and offshore structures.
The ICMS Coalition
The International Cost Management Standard Coalition (ICMSC) is a growing group of 49 professional and not-for-profit organisations from around the world, working together to develop and implement international standards for benchmarking, measuring & reporting construction project cost and draft, consult and produce the new International Construction Management Standards.