Updating MIT's cost estimation model for shipbuilding

Abstract

This thesis project will update the MIT ship cost estimation model by combining the two existing models (the Basic Military Training School (BMTS) Cost Model and the MIT Math Model) in order to develop a program that can accurately determine both a ship's acquisition cost as well as its life cycle cost. Using United States Coast Guard resources, this project will also address various aspects of the ship design process which have a direct effect on the cost of building a ship. This will include, but not be limited to, the cost estimation process, determining which design decisions have the biggest impact on the ship's total cost, common pitfalls in the design process that lead to increases in cost, and lessons learned that have helped minimize the cost of a ship.