Three times winners of the South American Libertadores Cup the Paraguayan side finished bottom of the country's Clausura championship last year only escaping relegation because of the complex system used to decide who goes down.
On Saturday a 2-0 defeat to 3 de Febrero dropped them to eighth in the ten-team championship and extended their winless run to five games.
'On a sporting front we can consider our administration to be a failure' said Scavone who has been replaced on an interim basis by his vice-president Alejandro Dominguez.
'We finished bottom last year and we're in a delicate situation again.'
Olimpia have been attempting to rebuild since former president Oswaldo Dominguez Dibb - usually known simply as ODD - left the club two years ago ending a stormy 30-year reign during which he effectively financed the team himself.
Scavone admitted that Cordoba appointed in February to replace Gustavo Benitez had been fired for making some explosive comments rather than the team's form.
'He went over the top' Scavone said. 'It's interrupted an excellent project.'
Cordoba however accused the club of failing to develop a youth policy or any sort of long term planning and said he had been forced to throw inexperienced players into the fray.
'Nobody in 100 years has done what I'm doing for this club' said the Argentine. 'Nobody here thinks about tomorrow and this (club) has been a disaster for the last three years.'
'Today the great Olimpia has to look back eat some humble pie and admit that in the past they made mistakes.'
Olimpia's misery has been compounded by the excellent form of arch-rivals Cerro Porteno who are unbeaten in the Libertadores - which Olimpia failed to qualify for - and the domestic championship.
'It's not my fault that Cerro have done things properly' Cordoba added.