Title

Standardisation in Construction Cost Control (A Method of Approach)

Document Type

Multimedia

Rights

This item is available under a Creative Commons License for non-commercial use only

Disciplines

2. ENGINEERING AND TECHNOLOGY, Construction engineering

Publication Details

The video attached is from the World Construction Forum 2019, 9th-11th April 2019, Slovenia.

Abstract

Construction cost control has gained importance with the increased cost and complexity of construction projects. The nature of contracting has changed from single trade based on a system of contracting "in gross". The recession left in the wake of the Celtic Tiger confirmed the importance of construction output measured as a percentage of GNP. This has proven to be a firm indicator of economies performance on a global basis. But are we valuing this important economic measure in the same manner? The International Construction Measurement Standard (ICMS) is a standard for construction cost reporting which seeks to harmonise cost reporting so as to add value to construction data. This will allow for firm comparisons on the national and international stage.

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