Management by projects in maritime organisations

Project Management techniques, such as gannt charts, were first applied in shipping as the need for swift recovery to seaworthiness is one of the many constraints facing the sector. In general, the operational environment of Maritime Business is dynamic, challenging, volatile and turbulent, demanding continuous planning, budgeting, controlling and adaptation to ever changing international conditions. Vessels are chartered (contracted) and seen as a commodity creating a portfolio. When combining this aspect with the actual operation of the vessel (voyage estimating, crewing, supplies, maintenance etc.), ship management is analyzed as being complex and/or chaotic. Additionally, the growth of Ship Management Companies has brought about new dimensions in the management of vessels. The paper investigates the existence of management by projects in the Shipping Sector, identifies key features and speculates on the possibility of improved performance by introducing project management techniques and procedures.