Many rivals believe Brawn GP drivers Jenson Button and Rubens Barrichello could be out of reach in Melbourne, but the team principal said the car was still in the very early stages of its development.
"From our short but crucial testing programme over the past two weeks, we have reinforced our view that the BGP 001 is a good car and an excellent platform from which to develop performance over the course of the season," said Brawn.
"Our focus during the seven days of pre-season testing was on reliability and developing our understanding of the car in race conditions. We are very satisfied with the work achieved and the initial pace seen from the car however we are fully aware that our work has only just begun.
"The practice running in Melbourne will be crucial and we have to get as much mileage as possible under our belts to allow Jenson and Rubens to refine the set-up of the car to their liking."
He said the team personnel deserved huge credit for their efforts over the uncertain winter following Honda's withdrawal.
"Our ambition has always been to be on the grid for the first race of the season in Melbourne and our planning was specifically tailored towards the achievement of this goal," Brawn said.
"I am extremely proud that we have achieved our ambition and the Australian Grand Prix will mark the start of an exciting new journey for our team.
"The BGP 001 car is the result of 15 months of intensive development work and the team have been nothing less than fantastic in their commitment to producing two cars in time for the first race."