Cost Management in Shipbuilding and Naval Engineering

Cost Management starts with the proposal and bidding process. The “CostFact” software system supports cost management across all shipbuilding phases. The main focus is on cost estimation from the earliest tender phases and accurate cost planning from initial to detail design. CostFact is the number one in maritime specialized costing software and is developed in close cooperation with several of the world’s leading shipyards, which means that a number of best-practice methods have been incorporated into the system, covering all of a shipyard’s calculation demands.

The use of CostFact leads to:

  • Improved efficiency, speed and error avoidance in cost planning, analysis and optimisation throughout the entire life cycle.
  • Combining engineering know-how and costing experience in ascertaining the real cost of new vessels, and in generating reliable quotations very quickly.
  • Consistency throughout the entire proposal and calculation process that ensures transparency and comprehensibility for the ships calculated.

CostFact has been field-tested for more than ten years. In 2018, the worth of ship newbuilding projects which were actively processed by the users in CostFact, exceeded the amount of 20 billion euros.

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CostFact improves cost management.