A lot will depend of what you are rounding. If it is stock diameters then you will need to go down for some eg 1/8" becomes 3mm, 1/4" becomes 6mm and up for others like 3/8" which becomes 10mm. 7/16" and 9/32" are ones that can go either way.
When it comes to the engines layout you can keep things like stroke (piston and valve), conrod length and engine centers the same as a direct conversion is possible and you don't have to start thinking about valve events being altered or parts clashing if your rounded up stroke means the piston moves further in your rounded down cylinder length.
There is also another option if you don't mind having a slightly larger or smaller engine and that is to use the conversion factors of 1/16" = 1mm for a smaller engine or 1/32" = 1mm for a larger one. I have used this quite a few times and generally it works out well with the odd unusual size being tweaked for stock sizes.
What was the mill engine again?