We are delighted to announce that Tetra Tech has joined The International Construction Measurement Standards Coalition (ICMSC), a growing group of more than 40 professional and non-profit organisations around the world that collaborates to develop and implement international standards for benchmarking, measuring, and reporting construction project cost.
Filipe Passos, Risk & Assurance Manager at Tetra Tech, said: “I believe this to be an excellent opportunity to become part of an international initiative to standardise international measurement rules. Standardisation equals consistent pricing, benchmarking, and subsequently, funding confidence, which the International Monetary Fund has endorsed.
Reporting and costing on construction projects varies significantly from one market to the next, which not only makes it difficult to compare international projects to one another, but also raises investment risk and reduces transparency. The standards implemented by the Coalition addresses this, raising investor confidence and public trust in the sector.
The Coalition was launched in 2015 as a result of several organisations coming together at the IMF in Washington, D.C. to set standards and guidelines on how construction projects are measured
We look forward to applying this standardisation to the many infrastructure projects we are undertaking on the international stage, and to supporting ICMSC in developing and implementing further standards.