December Records Three-Month High in Cost Overrun Ratio: MOSPI

25 Jan 2024 CW Team

The Ministry of Statistics and Programme Implementation (MOSPI) reports a notable surge in the Cost Overrun Ratio for the month of December, reaching its highest point in three months. This data underscores potential challenges in managing project costs within stipulated budgets, prompting a closer examination of the factors contributing to the increase.

The findings from MOSPI highlight the need for enhanced cost management strategies in urban infrastructure projects to ensure fiscal prudence and timely completion. As the Cost Overrun Ratio rises, stakeholders may need to implement measures for effective project monitoring and control to mitigate the impact on overall project outcomes.

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