Investment decisions are usually based on individual experience, knowledge and gut feeling. The process is time consuming, and all too often, its lack of rigour and formality results in an immature investment plan.
However, such unrefined ideas are often presented to a naval architect to sketch a solution (General Arrangement). This leads to a lot of technical design work without the benefit of a clear understanding of the commercial and operational requirements and their consequences. The end result can be high costs, poor quality and time consuming projects.
The Ulstein solution
With our background in ship design, shipbuilding and electrical & control systems, Ulstein is uniquely positioned to guide customers through the fleet renewal and vessel investment decision-making process.
We have developed a structured systematic business development methodology to guide this decision-making process. Ulstein has initiated and been involved in several national and international research and development projects. In collaboration with academic institutions, class societies and major industry suppliers, the studies have aimed to improve the way we conduct our business, especially how to secure competitive advantage in the product and business development phase of the value chain. This knowledge was developed into the Accelerated Business Development (ABD) methodology, which we use to work with comprehensive internal strategic issues and, more importantly, our customers’ strategic fleet investment decisions.
Performed in collaboration with the customer and relevant experts, the ABD process is typically separated in three sessions. The facilitator guides participants, following a pre-set structure with the flexibility for individual adaptations.
Session 1 - Business analysis
Session 2 - Concept development
Session 3 - Business development
The ABD approach accelerates the normal fleet development and renewal process by speeding up the decision making and reducing the time from business idea generation to fleet investment realisation. The ABD process provides access to the tools, sources and databases needed to perform qualified market and business analyses. Much complex information is effectively analysed, and internal and external specialists are called upon when needed. The customer experts, together with the ABD representatives from Ulstein, make up the core project group.
The resulting report is a superior way of presenting relevant information to a Board of Directors, financial institutions or investors.
Ulstein carries out multiple studies, one of which is feasibility studies. A feasibility study provides the insight for selecting the best solution towards CAPEX, OPEX and environmental impact. Here's an example of how we can carry out an energy storage feasibility study.Feasibility studies