University of the Aegean Dpt. Shipping, Trade & Transport P3T3 COST Action TU1001 Public Private Partnerships in Transport: Trends & Theory P3T3 for TRB Public Private Partnership Subcommittee ABE10 Washington DC, 14 Jan Dr. Athena Roumboutsos Action TU1001 Chair

University of the Aegean Dpt. Shipping, Trade & Transport P3T3  Introduction to COST Action TU1001 – Public Private Partnerships in Transport: Trends & Theory (P3T3)  P3T3 Objectives  P3T3 Set up  P3T3 Research  Value Propositions Overview What we are doing Future

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 AT, BE, BG, CH, CY, CZ, DE, DK, EL, ES, ET, FI, FR, IR, IT, NL, NO, PL, PT, SI, SK, SR, SV, UK Chair : EL P3T3 Network: Who’s Who 5 Non-COST Countries : AU, HK, CH, US, AL & WB COST Countries : 24 OR ≅ 100 Researchers from approx. 50 institutes 36 assigned by National Governments COST Action TU1001,

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 P3T3: Objectives (Memorandum of Understanding, MoU)  ….The aim of the Action is to develop a theoretical basis for PPPs in the transport sector grounded on the multidisciplinary analysis of an extensive cross-sectoral and transnational empirical data- set.  ….. a shift from a descriptive to a normative approach ……for the prediction and forecasting of variations, impacts and outcomes.

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 P3T3: Objectives (MoU)  Decision making process  Selection, implementation and operation of PPP transport projects considering sustainable procurement‘ and value propositions‘  PPP performance  CSF, KPIs, test criteria  Impact of External Events  Implications of the financing arrangement.  Modal perspective  National Perspective

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Research WG: Decision Models Deterministic Models Stochastic Models Flexible Models Flexible Models Complete Contracts Complete Contracts Incomplete Contracts Incomplete Contracts Real Options Flexibility Theory Risk Mitigation Strategies Tendering Field of Applicability Policy Guidance Framework TEST/SIMUL ATE/SURVEY PPPs Need Flexibility

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Research WG: Performance Step 5: Performance Analysis and Improvement Step 1: Performance Definition Step 2: Objectives (at Different levels) Step 3: Criteria (Based on KPIs and CSF) Step 4: Benchmarking Policy Guidance Framework How Flexible?

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Research AWG: Modal Context  Case Study Database FOR  Testing Theories  Benchmarks  Analysis  Synthesis  …..References

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Research AWG: National Context  National Characteristics Database  Legal framework  Business structures  Etc  Impact of External events  Macroeconomic Figures  Transport Demand FOR  Testing Theories  Benchmarks  Analysis  Synthesis  Correlations  …..References

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Research WG: “Impact of External Events”  Addressing Contract Incompleteness  Changes in initial Assumptions  Changes in initial Predictions  Changes in initial “values”  Changes in Perceptions  Changes transport market structure & regulations  New Financing Models  New Needs in Transport  New Value creation  New PPP Models  Addressing Existing PPPs  Renegotiations Complete Contracts Complete Contracts Incomplete Contracts Incomplete Contracts

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Connecting Dots … Research Flexible Decision Models KPIs & CSFs Addressing Incomplete ness Modal Context Database Modal Context Database National Context Database /Data National Context Database /Data Policy Guidelines Transport Policy Procurement / Contract Guidelines Model Building Model Testing Expected Outcome

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Future New research proposal

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 Value Basis Change in Value projections Elasticity in Value Basis Visualizing flexible Value System models Research Value projections depending on: Project Type Project Size Project “portfolios” for: the user the lender the Public Authority the private provider Change in the Value Basis by Country (?) Mode (?) Project life cycle (?) Economic Environment (?) Re- negotiations Increase of value basis through Innovation (?) Cross “fertilization” (?) Other Value Capture (?)

University of the Aegean Dpt. Shipping, Trade & Transport P3T3 PPP Observatory

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