The value of global construction is expected to grow to $12 trillion by 2020, but it is estimated that up to a third of this investment could be lost through corruption, mismanagement and inefficiency. CoST- The Infrastructure Transparency Initiative helps to improve this situation by disclosing information on publicly funded construction projects that informs stakeholders and enables them to hold decision-makers to account.
The executive summary of this business plan condenses how CoST can be scaled-up and the benefits of improved transparency and accountability extended to 22 countries over a three year period. This is an excellent introduction to the business plan itself.
The three year pilot project has ensured that the CoST approach is rigorously designed and can be adapted for application in a variety of political and geographical settings. The CoST Board and the International Secretariat have acquired the knowledge and experience necessary to successfully implement the programme. CoST is poised to transform the relationship between citizens and government with regard to public investment in infrastructure. It now requires the resources to translate its widely acknowledged potential into practical impact on the ground.