Project management must pay more attention to the scheduling of project implementation. Substantial delays experienced by all three projects should have been avoided or shortened. In contemporary infrastructure management, time overrun, like cost overrun, is a key performance indicator and affects the project’s efficiency. On-time completion is particularly important for a road rehabilitation project. The service level of a road under the rehabilitation is downgraded because the capacity of the road should be constrained during civil works. The impact tends to be greater than that of a new construction project. In addition, the delay in project completion results in a decrease in EIRR of a project due to unrealized benefits during the delay period. If the second project was completed as expected in the RRP, the EIRR of these projects could have been increased to 15.3%–15.7% from 15.0%, depending on the assumptions.
Road Rehabilitation Project, Second Road Rehabilitation Project, and Third Road Rehabilitation Project [Loans