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Video: The New Rules of Measurement
Two RICS QS and Construction Faculty board members, vice chair Stuart Earl – a partner in Gleeds – and former chair Michael Byng discuss the history of the NRM's development and explain why this overarching measurement document was so overdue.
Throughout the programme, the four stages of NRM – estimating, cost planning, procurement and whole life costing – are discussed. Elements new to costing documents, such as the NRM's handling of inflationary cost increases and client risk are a particular focus.
We also examine the document against a backdrop of existing measurement tools including SMM7 and the BCIS standard form of cost analysis and explain why the NRM supersedes the form.
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As of November 2008,