Dry-docking performance measurement model - multi criteria non parametric approach

The aim of this paper is to introduce a multi criteria performance measurement model for newbuilding dry-docking purposes as a managerial tool. The dry-docking is presented as a process with multiple inputs and outputs, containing various technical and cost data related to the dry-docking project. The data envelopment analysis models with constant and variable returns to scale were used in this research along with the efficiency decomposition method to determine possible sources of inefficiency on the data sets available. The seven criteria to be used for dry-docking performance measurement. Research results determined the best practice/efficient vessels which create the efficient frontier. Projections to the efficient frontier, efficiency decomposition and sources of inefficiency recognition with improvement propositions were provided for the inefficient vessels. Due to the performance assessment carried out, the results represent benchmarks for dry-docking performance and a guideline to future dry-docking improvements on data set researched.

Automated summary

This paper introduces a multi-criteria performance measurement model for newbuilding dry-docking purposes. Data envelopment analysis models were used to determine best practices and inefficient vessels, with improvement propositions provided.