Assessing performance measurement indicators for ship manufacturing industry through value engineering and risk assessment model

Selecting attributes for shipyard performance measurement remain essential as the dynamic changes occur in manufacturing technology and future ships products. The present study provides the Value Engineering and Risk Assessment (VENRA) approach as the performance measurement model for ship manu-facturing. Existing criteria similarity and applicability, in shipyard industry, have been examined through a thorough critical review. A number of performance criteria have been identified, including technical, business, external, and safety/risk groups as part of the VENRA model. Subject experts provide the relevant scoring of the model through a dedicated Likert Scale to assess the weighted criteria. The result shows shipyard facility and capacity are the most critical main criteria, while launching/docking facility and welding machine facility are the top two crucial sub-criteria. The case study of one Indonesian shipyard shows the model’s effectiveness, suggesting shipyard examine their existing facility and capacity as part of the technical performance.