Value creation in capital waterway projects: Application of a transaction cost and transaction benefit framework for the Miami River and the New Orleans Inner Harbour Navigation Canal

Waterways have many more ties with society than as a medium for the transportation of goods alone. Waterway systems offer society many kinds of socio-economic value. Waterway authorities responsible for management and (re)development need to optimize the public benefits for the investments made. However, due to the many trade-offs in the system these agencies have multiple options for achieving this goal. Because they can invest resources in a great many different ways, they need a way to calculate the efficiency of the decisions they make. Transaction cost theory, and the analysis that goes with it, has emerged as an important means of justifying efficiency decisions in the economic arena. To improve our understanding of the value-creating and coordination problems for waterway authorities, such a framework is applied to this sector. This paper describes the findings for two cases, which reflect two common multi trade-off situations for waterway (re)development. Our first case study focuses on the Miami River, an urban revitalized waterway. The second case describes the Inner Harbour Navigation Canal in New Orleans, a canal and lock in an industrialized zone, in need of an upgrade to keep pace with market developments. The transaction cost framework appears to be useful in exposing a wide variety of value-creating opportunities and the resistances that come with it. These insights can offer infrastructure managers guidance on how to seize these opportunities.

Commercial Use of WS-PGRADE/gUSE

Although originally an academic and research product, the WS-PGRADE/gUSE framework is increasingly applied by commercial institutions too. Within the SCI-BUS project, several commercial gateways have been developed by various companies. WS-PGRADE/gUSE is also intensively used within another European research project, CloudSME (Cloud-based Simulation Platform for Manufacturing and Engineering). This chapter provides an overview and de-scribes in detail some commercial WS-PGRADE/gUSE based gateway implemen-tations. Two representative case studies from the SCI-BUS project, the Build and Test portal and the eDOX Archiver Gateway are introduced. An overview of WS-PGRADE/gUSE based gateways for running simulation applications in the cloud within the CloudSME project is also provided.