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What is today's blog about?
In this week’s blog, we look at the updated RICS New Rules of Measurement (NRM).
Essential reading for all RICS APC and AssocRICS candidates involved with the cost management of construction projects and maintenance works.
You can download a copy of the updated NRM here.
What are the NRM?
The NRM provide a set of measurement rules and guidance for the cost management of construction projects and maintenance works.
They are split into three separate volumes:
NRM 1: Order of cost estimating and cost planning for capital building works
NRM 2: Detailed measurement for building works
NRM 3: Order of cost estimating and cost planning for building maintenance works
When do the changes take effect?
From 1 December 2021.
What changes have been made?
NRM have been updated to reflect the high-level International Cost Management Standards (ICMS) and detailed principles set out in the RICS Professional Statement Cost Prediction 1st Edition. They also now reflect the revised RIBA Plan of Work 2020, which provides a framework for the analysis of construction costs.
NRM 1, 2 and 3 are linked to International Property Measurement Standards (IPMS) 1 and 2, which set the rules for measuring GEFA and GIFA respectively.
What is NRM 1?
NRM 1 relates to the order of cost estimating and cost planning for capital building works. It provides an elemental work breakdown structure (WBS), a cost breakdown structure (CBS) and a codification framework.
What is NRM 2?
NRM 2 relates to the detailed measurement of building works, allowing surveyors to prepare bills of quantities (BQs) and quantified schedules of works.
What is NRM 3?
NRM 3 relates to the order of cost estimating and cost planning for building maintenance works. It has been updated to reflect the increasing use of BIM in the analysis of cost information, consideration of whole lifecycle costing and move from PAS 1192 to ISO 19650.
NRM 3 provides an elemental work breakdown structure (WBS), a cost breakdown structure (CBS) and a codification framework.
How can we help?
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Stay tuned for our next blog post to help build a better you.
N.b. Nothing in this article constitutes legal, professional or financial advice.