Document downloads - Value management
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Code of measuring practice
Published: September 2007
Reinstated: 23 January 2018
Effective from: 23 January 2018
Please note this document is in the process of being updated in 2025.
During this interim period, when using the 6th edition of the Code and/or IPMS: All Buildings (https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/real-estate-standards/international-property-measurement-standards), RICS members and RICS-regulated firms should continue to adopt the appropriate measurement basis so as to satisfy the requirements of the instruction. The basis of measurement used should be documented.
Code of measuring practice became globally effective in May 2015.
Please note, the RICS Property measurement standard 2nd edition has been archived and should only be used as a reference. -
Managing the design delivery (ARCHIVED)
Published March 2012
Archived 16 September 2024
The guidance examines design delivery management (DDM) in the particular context of construction projects, situating it as a key process that connects the various aspects of the construction value chain. DDM is explained as an essential link between response to the client's needs and the construction process, which brings that response into reality as a building, structure or facility. -
Value management and value engineering
Published January 2017
Effective from 1 May 2017
Reissued September 2024
This 1st edition practice information introduces the concepts of value management and value engineering as they relate to construction projects and to the role of chartered surveyors, who have a key role to play in helping manage value across the project.
Value management and value engineering are both concerned with increasing the ratio between benefit (outputs) and the cost or effort (inputs) required, but are often separated in terms of their timing and their scale. But value is also a relative concept, and one of the roles of project management, supply chain procurement and overall procurement is to manage these imbalances so that the project as a whole provides value to the client.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material.
This document was reissued in September 2024 as practice information. It had previously been published in January 2017 as a guidance note. No material changes have been made to the document.