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Exciting times are up ahead for companies and individuals involved with the planning and delivery of major transport projects across Australia. The magnitude of the work is enormous, which subsequently presents the industry with tremendous amounts of opportunity, but in a lot of cases also imposes an equal or greater amount of risk and uncertainty.
Associate Director, Ryan Marschke, shares his thoughts on the costs of cashing in on the infrastructure boom in this month’s edition of the Building Economist, published by AIQS.
It wasn’t that long ago that a $1B infrastructure project in Australia was considered rare, however, we’re now experiencing a once in a generation spend on transport infrastructure. The major project pipeline for most of Australia’s capital cities is filled with opportunities for quantity surveyors to be involved with major roadworks, rail and light rail projects. As a result of exponential population growth and major public and private spending across Australia’s infrastructure sector, the companies and individuals who service this industry are committing to new heights in terms of their financial risks and capabilities, in an attempt to cash in on the boom.
The magnitude of the projects being delivered is sometimes less apparent than what can be seen during a building industry boom, where cranes fill the skies, and individuals typically take ownership of the end product on a more personal level. In contrast, some of Australia’s largest engineering projects are currently tunnelling their way below ground, other major projects are disguised by the dense urban landscape typically surrounding them, rail corridors are masked by their acoustic surroundings, and at the end of the day individuals generally share the asset with the public upon completion.
Excerpt only. Read the full article featured in the September edition of the Building Economist by clicking here.