integrating the signalling and communications systems.

The risky and complex activities in future project phases include: These ongoing cost and time pressures leave RPV limited flexibility to address future risks because they have either used or allocated almost all their risk contingency funds. As the project moves into the next risky phases further cost and time pressures could appear.

However, the MTP has experienced some cost overruns and time delays since the contract reset. If unexpected events lead to added costs, the project may draw upon these risk contingency funds. Risk contingency funds refers to funding that the State adds to the cost estimate in a project budget to account for uncertainty and unknown risks. Delivery of the project’s contracted scopeĬYP is currently delivering the tunnels and stations main works package, as described in the amended December 2020 contract, in a satisfactory manner. These changes should allow for more focus on timely delivery and better define the project’s governance and coordination processes. The 2020 contract amendments also enhanced the project’s oversight, planning and scheduling processes. CYP will also need to absorb its share of the new estimated cost, including any potential cost increases above that. This reset contract altered some cost and time expectations that were in the original December 2017 contract.Īn independent expert’s analysis found that construction costs would be about $2.74 billion more than the 2017 contract. The 2020 contract amendments required the state to pay up to an extra $1.37 billion towards the construction phase costs on condition that CYP meets contractual milestones. This audit assessed delivery of the Melbourne Metro Tunnel Project (MTP) tunnels and stations main works against the scope, budget, schedule and quality requirements set out in the December 2020 amended public–private partnership (PPP) contract.ĭue to commercial and delivery issues that Cross Yarra Partnership (CYP) faced in the first 2 years of the project, it and the state-through Rail Projects Victoria (RPV)-negotiated and agreed to reset the contract for the tunnel and stations main works. A public–private partnership (PPP) typically involves a long-term contract between the state and a private-sector party to design, finance, build and maintain social or economic infrastructure that delivers public services.

Instal the new for mac Metro 4