Infrastructure has a central role in the development of an emerging economy or sustenance of a mature economy. Australia’s robust economy, growing trade and changing demographics are some of the factors driving demand for better and modern infrastructure. There is a persistent need in the country to invest in new infrastructure as well on maintenance and improvement of existing stock.
Under the Australia Government’s Economic Action Strategy that plans to boost the country’s economic stance, Australia is likely to generate bigger opportunities in the infrastructure industry. Recently, the country has set out USD 43.9 billion for Greenfield and Brownfield Infrastructure Programmes, including Roads to Recovery Programme, Bridges Renewal Programme and many more.
Also, Australia’s infrastructure industry is undergoing many changes. Country has majority of infrastructure asset backed by the Government until recently when privatization happens to be the next plan of action. While the economy is showing prospective signs, there are consequent risks and challenges that needs to be closely monitored. Mining which is the primary industry of the country, is witnessing slowdown in enticing investors due to growing land, environmental or political disputes, consequently resulting in cost and time overruns. Most of the speculators are turning
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It includes market sizing of upcoming project pipeline at most granular level and provides forward-looking analysis on top clients, contractors, consultants/ PMcs, other civil contractors / suppliers with their respective working or partnership model. Furthermore, it shows the new and recent trends in the industry and how it may impact the business decisions of the involved
... Australia's workforce, infrastructure, schools, hospitals & healthcare, helping families and low income earners, and investment into regional areas.
High Speed Rail is modern passenger trains that have the capacity to move at an average speed of 250km/h or more, on purpose-built tracks. The Shinkansen in Japan, the French TGV (Train à Grande Vitesse) and the German ICE (Inter-City Express) are just some of the example of High Speed Rail. Currently there are new railways under construction or being planned in countries including China, Portugal, Russia, Vietnam, United States, and India. The purpose of this paper is to investigate the feasibility of this infrastructure in Australia, specifically focusing on a high speed railway line between Melbourne, Sydney and Brisbane. From the analysis, the paper will argue that High Speed Rail is not a suitable mode of transportation in Australia. The paper will first providing some background information on high speed rail related economic factors following by analysis that put forward arguments that highlight the negative impact that the construction of the speed rail infrastructure will have on the country.
Infrastructure is important in the economic stability of any country and the comfort of its people. Mongolia is grappling with its economy because of poor development of logistical infrastructure. The reasons for this poor growth trace back to the history of the country, and its overreliance on the mining sector. The post-communist country depends too much on mining, which is clouded by corruption, thereby forestalling development of the transport system. The government and organizations in the country are also reliant on international support. Moreover, the recent privatization of institutions is not enough to address the development challenges in the country.
Australia has had one of the most outstanding economies of the world in recent years - competitive, open and vibrant. The nation’s high economic performance stems from effective economic management and ongoing structural reform. Australia has a competitive and dynamic private sector and a skilled, flexible workforce. It also has a comprehensive economic policy framework in place. The economy is globally competitive and remains an attractive destination for investment. Australia has a sound, stable and modern institutional structure that provides certainty to businesses. For long time, Australia is a stable democratic country with strong growth, low inflation and low interest rate.(Ning)
Commodity prices were falling in international markets and significantly constraining export revenue. The investment boom that had accompanied the record commodity prices had come to an end and firms were not redirecting investment into the non-mining sector.” “The household sector already massively indebted from the credit binge prior to the GFC were showing a desire to save at least 9 or 10 per cent of their disposable income, which meant that consumption would not make up for the lost investment spending.” That reality soon dawned on the new Australian government and by their second year they had … realised that the economy was slowing down rather quickly and the labour market was deteriorating under their watch.”
This economic partnership with Indonesia will generate growth and distribute the reaped benefits to its people. Australia provides policy and technical advice that will improve the quality of Indonesia's investments in infrastructure, economic governance, human development and social policy. Australia has cut its total foreign aid significantly over the past few years. This has been reflected by Australia giving proportionally less aid to Indonesia in comparison to other countries. Yet the total foreign direct investment into Indonesia from all countries has increased on average.
...itionally, the government as part of the rebuilding efforts that have been taking place should invest in infrastructure, speeding up implementation of plans for a regional airport, highways, and harbors that would offer much needed benefits to fishermen working along the southern coast Arunatilake, et al., 2014, p. 29).
Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].
In general, there are different types of procurement type for various situations due to no one method can be suitable under the all different construction project. In this case, there are four procurement paths, which are traditional, design and build, management and design and manage, will be advised to use. However, each method has different aspects of advantages and disadvantages.
Each of Australia's five mainland states had developed its own transportation system, but with no regard to its compatibility with those of its neighbors. Without uniform standard gauge tracks, their railways were built with different sizes, sometimes even within the same state. Highway systems were equally inadequate for military needs. Slow and hazardous water transport along Australia's eastern seacoast was not a viable alternative.
Canada’s infrastructure plays a major role in contributing to the success of the economy and business’. The rate at which roads, multi-story buildings and entertainment facilities are being built has never been quicker and the heavy machinery industry plays a major role. For instance, the biggest construction company in Canada, Aecon, has increased in size every year since it was created. However, the company would never have been started if it was not for a Scottish immigrant, Adam Clarke, who started the business just as a plumbing and gas fitting company in 1877 in Hamilton, Ontario. From there, the brand expanded substantially by investing into heavy machinery in order to be able to develop and build roads, bridges and structures. Today,
Accurately forecasting the cost of projects is vital to the survival of any business or organization. Cost estimators develop the cost information that business owners or managers, professional design team members, and construction contractors need to make budgetary and feasibility determinations. From an Owner's perspective the cost estimate may be used to determine the project scope or whether the project should proceed. According to the U.S. Department of Labor there were about 198,000 cost estimators in 1994. That of which 58% work in the construction industry, 17% employed in manufacturing industries, and the remaining 25% elsewhere. From this we could conclude that a great deal of cost estimation lies in the construction industry, where multi-million dollar contracts are formed after a thorough cost estimation.
The procurement approach for this project was chosen based on the project management. The process of selecting the (construction) project management contractor (Siemens) as well as its team was significant as the key in producing an effective project with regards to quality and cost in this approach relies on the management team’s experience and knowledge in all aspects.
The eight billion initial investments in the high-speed rail are expected to produce about 320,000 jobs and roughly thirteen billion dollars in economic benefit. These include construction and operation jobs, as well as manufacturing and supply chain options. By increasing mobility while decreasing crowding and spreading, high-speed rail makes our country more competitive while simultaneously creating economic development. The High Speed Rail could boost the economy and could provide alternate transportation, therefore it should be built.
The theoretical foundations of the effect of infrastructure on growth and more generally on development outcomes are mostly found in Growth theory (Aghion and Howitt, 1998; Agenor, 2004; Agneor, 2010; Agenor and Moreno-Dodson, 2006; Barrow and Sala-i-Martin, 2004 and Straub, 2007). Economic growth is the increase in the amount of the goods and services produced by an economy over time (Sullivan, Arthur; Steven and Sheffrin, 2003). It is conveniently measured as the percentage rate of increase in real Gross Domestic Product (GDP). Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced.