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Announcement MSG Members FAQ Photo Gallery Contact Us Mails CoST Stakeholders CoST Criteria Benefits of CoST Necessity of CoST Core Principles CoST in Tanzania CoST Champion in TZ CoST Launch Report CoST Rules November 2008  News Brief Multi Stakeholder Groups (MSG) in Tanzania How does CoST Work?

CoST core principles The Construction Sector Transparency Initiative (CoST) is a voluntary initiative designed to be applicable to any country and to any government department or agency with responsibility for public-sector construction projects. The principles which underpin CoST reflect a shared stakeholder commitment to transparency and accountability. They are: Projects should promote sustainability. Public-sector infrastructure projects should support sustainable economic growth that contributes to sustainable development and poverty reduction. Mismanagement during construction can undermine potential social and economic benefits and value for money. Governments must be accountable. In every major public-sector construction project, accountability by government to all citizens for public expenditure on construction projects is key. Management of construction projects should be transparent. High standards of complete transparency and accountability in all parts of the construction sector, both public and private should be encouraged. Disclosure can improve efficiency. Basic project information, disclosed throughout the entire project cycle, can provide an effective and efficient way to improve value for money of construction projects over time by reducing opportunities for corruption and increasing scrutiny. Transparency promotes investor confidence. An enhanced environment for domestic and foreign direct investment is made more likely by transparency in the management of construction projects. Support from multi-stakeholder group (MSG) is important. Made up from representatives of government and procuring agencies, the construction industry, professional associations, financial organizations, investors and civil society organizations. MSGs can play an important oversight and interpretative role in ensuring greater transparency and public understanding of disclosed information. The MSG oversees the implementation of CoST. At a technical level the MSG is supported by an independent Assurance Team that plays an interpretative role in helping to make raw data disclosures more intelligible to the MSG, and to enable