About CoST
The CoST initiative is a multi-stakeholder initiative designed to promote transparency and accountability in publicly financed construction.
CoST seeks to achieve transparency through the public disclosure of information at various stages of the construction project cycle in a way that helps stakeholders to hold the project agency accountable for value and quality. Disclosure covers, for example, the purpose and value of the project for beneficiaries, project scope and cost, the agencies and firms involved, the award of contracts, and variations in the cost, scope, and delivery time during construction. An assurance process adds value to the disclosure by verifying the information and highlighting issues in plain language so that citizens and oversight agencies can understand and react when appropriate.
Critical to the effectiveness of the disclosure and assurance process is the cooperation among the parties involved. Thus the multi-stakeholder approach, involving clients and oversight agencies in government, firms and engineers in the construction industry, and civil society groups, is central. Transparency is proving to be a common cause, in which all parties can share an interest in encouraging and ensuring a sound and beneficial outcome.
CoST was piloted in eight countries between 2008 and 2011. It is currently being scaled up to become a global initiiative. The pilot project was funded by DFID with support from the World Bank.
More information
- See the CoST factsheet for an easy to read overview of the initiative.
- Refer to the CoST Briefing Notes series for a more in-depth - yet concise - presentation of the different aspects of CoST.
- The International Advisory Group of CoST has produced a report at the close of the pilot period whch reviews the initiative and documents experience and lessons learned. Download this report here.
- This presentation (given October 2010) gives an overview of the global programme, intersected with the experience of one pilot country.
