In pursuit of a modest 188 after an excellent display in the field, the Bushrangers cruised to 1-72 in the 17th over then melted under pressure to be dismissed for 175 with 12 balls to spare.

The 12-run defeat saw the Bushrangers fall at the final hurdle in this competition for the third season running and leaves the team carrying a huge monkey into next month's Sheffield Shield final.

In the past three seasons, the Bushrangers have made eight finals for six losses, including a defeat in the Twenty20 Big Bash final earlier this summer.

A Victorian loss seemed the most remote of possibilities after a brutal spell from Shane Harwood backed up by a near flawless fielding performance saw Queensland limited to 8-187 from its 50 overs.

Harwood, the competition's leading wicket-taker, grabbed 2-23 to ensure he was named the player of the tournament.

That the Bulls were able to post a competitive total was due largely to an unbeaten 49 from Chris Hartley, who shared stands of 67 and 54 with Glen Batticciotto and tailender Chris Swan.