METHODOLOGY FOR EXPRESS ASSESSMENT OF THE PERFORMANCE OF SHIP PROJECTS IN THE PROJECT MANAGEMENT SYSTEM

Abstract

This paper examines the issue of rapid assessment of the effectiveness of ship design projects within a project management system, where decisions regarding the construction of a new vessel or the purchase or leasing of an existing one are made under conditions of uncertainty, limited initial information and significant investment risks. The aim of the study is to develop a practical methodology that enables a shipowner or project manager to compare alternative ship projects at the preliminary decision-making stage using clear physical and economic indicators. The proposed approach considers a vessel not only as a technical system but also as an investment asset, the efficiency of which is determined by its ability to generate operating income whilst limiting expenditure on fuel, crew, port charges, repairs and other items throughout its life cycle. The use of relative indicators is justified, in particular the level of profitability and a relative criterion of vessel efficiency that takes into account deadweight, speed and daily fuel consumption by the main engine. For new projects, the methodology involves a ranking procedure that combines two quality factors: the empty ship’s weight and the efficiency of the propeller-rudder system. Principles have been established whereby a shipowner can obtain the highest relative quality coefficient values at the stage of creating a new ship design. The results obtained include a sequence for determining and interpreting relative criteria, a conditional scale for ranking design quality, and comparative assessments for bulk carriers of various size groups. Comparative assessments of the ship quality criterion have been carried out for bulk carriers of various size groups. The scientific novelty lies in combining an economic rapid assessment with physically interpretable project indicators and using a ranking criterion as a link between project management and technical solutions during the design process. The practical significance lies in the possibility of shipping companies applying the methodology when selecting design proposals, formulating technical requirements and comparing fleet renewal options, as well as reducing the risk of subjective and insufficiently substantiated decisions. The proposed methodology can be implemented in the form of corresponding algorithms within a corporate management decision support system.Keywords: the quality of a ship design, project performance assessments, relative performance criteria