Identification of residual risk for each element and development of a funding allocation methodology of elements: 2019/20 Year 3

Queensland Department of Transport and Main Roads (TMR) faces a challenge in addressing the funding needs of multiple asset elements and the impacts on them from traffic use and the environment. Asset performance, and therefore needs and risks, are impacted by a combination of factors, with climate-related factors increasing in importance as evident from recent floods. This project aimed to deliver a framework, guidance, and tools to support a comprehensive, risk-based framework to assist in funding allocations to different elements. At this stage in Year 3 of the project, the focus was on developing a quantitative residual risk model for road pavements. It is envisaged that once the framework for the Pavement Residual Risk Model (PRRM) has been developed, a similar blueprint will be adopted for the development of a residual risk model (RRM) for other asset types.

• Record URL:
  https://www.nacoe.com.au/wp-content/uploads/2021/07/NACoE-A35-Year-3-2019-20-Annual-Summary-Report-FINAL.pdf
• Corporate Authors:

  National Asset Centre of Excellence (NACOE)

  Brisbane, Queensland   
• Authors:
  • Martin, T
  • O'Connor, G
  • Foster, E
  • Noya, L
• Publication Date: 2021-2

Media Info

• Pagination: 27p

Subject/Index Terms

• TRT Terms: Decision making; Financing; Pavement maintenance; Pavement management systems; Risk assessment; Types of roads by network
• Geographic Terms: Queensland
• ATRI Terms: Decision process; Pavement maintenance; Pavement management; Risk assessment; Road funding; Road network
• Subject Areas: Pavements;

Filing Info

• Accession Number: 01781216
• Record Type: Publication
• Source Agency: ARRB Group Limited
• Report/Paper Numbers: A35
• Files: ATRI
• Created Date: Sep 2 2021 2:25PM