Developing a hybrid value engineering and risk assessment (VENRA) framework for shipbuilding and ship repair industry performance measurement

This paper proposes a novel performance measurement framework to enhance the decision-making process in assessing the ship manufacturing (shipbuilding, ship repair, and ship conversion/modification) industry. Integrated Value Engineering and Risk Assessment (VENRA) approach performance measurement for ship manufacturing is developed to tackle the problem. Thorough literature and critical study of the existing performance measurement for ship manufacturing are reviewed to create novel VENRA performance measurements. The attributes collected from the literature are grouped into four criteria performance, named VENRA attributes, combining the technical, business, external and safety/risk performance groups. The initial model will be assessed through fuzzy DEMATEL TOPSIS to achieve the weighted score of each attribute. The framework will be applied to three shipyard case studies in Indonesia. The quantitative data (from shipyards) and qualitative data (from expert opinion/judgment) will be included to get the results and the framework’s effectiveness.