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The IPMS: All Buildings standard is an internationally recognized framework for measuring buildings, developed by the International Property Measurement Standards Coalition (IPMSC). Founded in May 2013 at the World Bank offices, the coalition currently comprises over 80 organizations committed to establishing a uniform measurement standard for all building types, including office, industrial, retail, and residential.
Historically, many markets have lacked harmonized measurement standards, leading to inconsistencies that can pose challenges for professionals, investors, and consumers. IPMS: All Buildings addresses this gap by offering a flexible, clear, and universally applicable measurement standard, shaped by extensive stakeholder consultation.
Unlike existing measurement standards such as BOMA, which are primarily designed for leasing purposes and often include gross-up factors for common areas, IPMS: All Buildings is focused on providing measurement methods suited for market analysis, benchmarking, construction cost estimation, property management, valuation, and more. It does not include gross-up calculations, making it less suitable for leasing but highly valuable for comparison and consistency across markets and asset classes.
The IPMS Coalition actively engages with committees like BOMA to ensure ongoing intercompatibility and alignment, fostering collaboration and consistency between standards where feasible.
IPMS offers the flexibility to measure only parts of a building or to assess all areas holistically. It employs a unique nomenclature to ensure clarity and avoid confusion with inconsistent terminology used worldwide. The structure is designed so users can select the appropriate measurement without reviewing the entire document, tailoring measurements to specific market needs.
IPMS 1 & 2: These classifications relate to external and internal measurements of entire buildings or parts thereof.
IPMS 3.1 & 3.2: These classifications are used for measurements specific to areas intended for exclusive occupation.
IPMS 4.1 & 4.2: These classifications are for measuring specific internal components, including or excluding external walls and columns.
This modular approach allows practitioners to select and use the precise standards needed for their specific purpose, ensuring accuracy and consistency across diverse market applications.
The use of IPMS is voluntary and there are no governing bodies that mandate its use. BOMA standards remain the dominant method for calculating lease areas across office, retail, and industrial sectors. Nevertheless, BOMA International collaborates closely with the IPMSC to ensure the compatibility and future alignment of standards across various building types.