RICS NRM
The New Rules of Measurement (NRM) are a suite of documents issued by the RICS Quantity Surveying and Construction Professional Group. These have been developed to provide a standard set of measurement rules that are understandable to all those involved in a construction project. The rules aim to take a cradle-to-grave approach to the procurement of construction projects, and include cost estimating, works procurement and post-construction procurement.
As well as covering the traditional costs that are reflected in measurable building work, the NRM encompass a range of other issues. These include overheads, profit and inflation, and other costs including consultants' fees, land costs, and planning obligations. Guidance is also provided on dealing with tax allowances and grants.
Part of the rationale for the new rules is to provide central governments, local governments and other public sector bodies with a value-for-money framework. More accurate cost estimation should also give reassurance to banks which are lending for construction projects. RICS supports the need to develop standard methods of measurement and reporting for sustainability across the property, land and construction sectors through the use of the NRM. Although the NRM are based on UK practice, the basic principles should be applicable globally.
RICS is publishing, in stages, the New Rules of Measurement (NRM) over the next two years. They will comprise three volumes:
NRM 1. Order of Cost Estimating and Cost Planning for Capital Building Works – anticipated publication is 24th April 2012
NRM 2. Detailed Measurement for Capital Building Works – anticipated publication is End April 2012
NRM 3. Order of Cost Estimating and Cost planning for maintenance works – anticipated publication is later in 2012, no date fixed yet
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