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2. ENGINEERING AND TECHNOLOGY
In 2015 the United Nations wrote to various construction cost bodies around the world seeking some form of uniformity in the reporting of construction costs worldwide. The UN concern was the variance of reported statistics globally for similar projects even when local economic factors were taken into account.
As a result a meeting was held for interested parties in the offices of the International Monetary Fund (IMF) in Washington D.C. in May 2015. This meeting became the inaugural meeting of what, today, is known as the International Construction Measurement Standards (ICMS) Coalition. The membership of the coalition is open to all groups whose members are involved in construction cost management. The current membership contains more than 45 organisations worldwide and is constantly growing.
Mitchell, C. (2016) International Construction Measurement Standards (ICMS) Explained. Technological University Dublin 2016.