What are the benefits of CoST?

Overall

Enhanced accountability of procuring entities and contractors for the cost and quality of public sector construction projects through strengthened accountability mechanisms.
Improved management of public finance and strengthened governance of public construction projects.
Greater efficiency of public procurement of infrastructure projects, leading to higher quality infrastructure at lower cost.

Benefits to government

Greater public confidence in government and the procurement process.
Governments learn what they should get using public funds and can compare this with what they are getting. Empowered with this information they can reform procedures and improve delivery.
Tackling corruption will encourage more contractors to bid and lead to fairer prices and higher quality projects with higher economic and social returns.
Financial transparency will develop improved business confidence and trust, and increased prospects for investment, both domestic and foreign.
As CoST gains international recognition it is expected to provide a seal of approval that will open the door to increased flows of funding for construction projects.

Benefits to industry

Increased transparency and fewer opportunities for corruption will engender confidence in the industry that a ‘level playing field’ exists and contract award and administration will be fair.
Reduced levels of corruption and greater accountability mechanisms will improve the chances of local companies winning contracts.
Companies involved in the sector will benefit from increased understanding of the social and economic development contribution made by the construction industry.
Companies will enjoy reduced risk to their reputation from association with projects or enterprises where corrupt practices are suspected.
Improved financial risk management will lead to better access to credit and loans on more favourable terms.
CoST should lead to improved professional standards.

Benefits to civil society

Civil society groups will enjoy increased access to information, the chance to participate in the governance of the construction sector.
Increasing access to information and actively involving stakeholders in the gathering, dissemination and analysis of the disclosed data will enable civil society (including parliamentarians, the media) to hold procuring entities and construction companies accountable for the cost and quality of public construction projects; and demand better project selection and oversight in the future.
Civil society groups will also benefit from capacity building to enable them to realise the potential benefits of CoST.

Benefits to ordinary citizens

The prospect of being able to compare what they are getting with what they should be getting, leading to better value construction, and construction that meets their real needs.

Greater transparency in the sector should also contribute to the implementation of environmental and social safeguards – ensuring that hazardous materials are not used and health and safety laws are observed.