The CoST Vietnam Bridging Phase was successfully completed at the end of 2012. During this period, that marks the transition between the pilot project and full roll-out of the programme, information was disclosed from 9 projects consisting of 11 contract packages in CPC offices, newspapers, the CoST Vietnam Website and local radio stations.
The new two stage assurance process was then applied for the first time. The first stage draws general statistics which on this occasion highlighted time overruns of between 17% and 200%. The assurance team stated that the time overruns were mainly due to delays in land acquisition, delays in approving designs and cost estimates and adverse weather conditions. Two of the eleven projects were subject to detailed examination.
A 3 year roll-out programme has recently been submitted to the Ministry of Construction for approval. Additionally, the Government of Vietnam will revise legislation on public construction to include the CoST disclosure requirements as part of CoST Vietnam’s 3 year roll-out programme which is expected to commence in the 3rd quarter of 2013.