The international cost engineering council and the global demand for cost engineers

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Journal Article
AACE International Transactions, 2008
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This paper describes the development of the International Cost Engineering Council (ICEC) since its inception in 1976 and links this with the global expansion of the project cost management profession over the same period. ICEC is an international confederation of cost management associations with the main objectives of facilitating cooperation between these associations and promoting the profession worldwide. Commencing with four founding associations in 1976, ICEC has grown to a membership base of 44 national associations located in 40 countries. ICEC now represents more than 100,000 quantity surveyors/cost engineers in over 120 different nations. This in itself provides demonstrable evidence of the global rise and recognition of the profession. This paper will track this growth and the concomitant recognition and development of the profession internationally. This will include emerging trends in Africa, China, India, and the Middle-East. This has created tremendous international opportunities for expert project cost management professionals and demand for these services is at an all-time high. Unfortunately, this demand has not been matched by supply resulting in a global shortage in the profession.
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