The Department of Transport and Main Roads (TMR) are currently conducting planning studies for short and long-term upgrades of various interchanges on the Pacific Motorway (M1). The interchange upgrades will improve safety for motorists, improve traffic flow and increase efficiency at the interchanges, and improve reliability of access conditions for freight movements and transit times for all road users.
SMEC has been commissioned by TMR to prepare a Business Case for the upgrade of the Exit 49 interchange at Pimpama, from which SMEC subsequently engaged Geleon to prepare the P90 Total Project Cost Estimate for the works in accordance with Transport and Main Roads (TMR) Project Cost Estimating Manual.
A cost estimate using a combination of unit rates and first principles methods was prepared that determined Construction Contractor's Costs, Principal's Costs, considered Planned and Unplanned Risks, Escalation and utilised @Risk software to perform a Monte Carlo simulation to ascertain the Total Project Cost at 50 and 90-percentile likelihoods. Estimated costs were then separated into Capex and Opex cost elements in accordance with Section 8 - Work Breakdown Summaries of the Transport Infrastructure Cost Classification Guide for Recording Expenditure - Implementation Guide for the TMR Infrastructure Asset Accounting Policy and Cost Breakdown Structures.