International Cost Management Standards (ICMS)

International Cost Management Standards (ICMS) are guidelines designed to improve the accuracy and consistency of cost management in construction and infrastructure projects worldwide. They provide a framework for measuring, reporting, and analyzing costs associated with projects, helping stakeholders make informed decisions. By standardizing practices, ICMS aims to enhance transparency, accountability, and efficiency, ultimately leading to better financial outcomes. These standards are particularly beneficial for managing public sector projects, where clarity and public trust are essential. In essence, ICMS helps ensure that the financial aspects of projects are well-managed and understood globally.