SYSTEM DYNAMICS SIMULATION OF THE EXPANSION OF THE PANAMA CANAL

The expansion of the Panama Canal could be the largest project attempted by the Republic of Panama in its 100 years of existence. The objective of this simulation study is to use the Canal Expansion project to develop and demonstrate how more precise and applied concepts involving the complex decision making processes can be used in large '' system of systems ''. It is an attempt to explain the decision making process for complex systems, and to develop a model that will help with the political, social and economic decision making processes involved in this very large project. Challenges involved in this research initiative included developing the parametric expressions that explain the dynamical intricacies and validation of the expansion project. A hybrid system is also proposed by using different types of simulation and mechanisms such as neural networks to incorporate some of the societal/political parameters.