ProjectPerfect: Tracking Costs of New Builds and Refits

Cost overruns and delayed deliveries are all too common in the megayacht market. But ProjectPerfect, created by StellarPM, aims to change that. ProjectPerfect is arguably a first-of-its-kind cost-tracking system specifically made for yacht construction and refit. It provides real-time data on everything from updated drawings to minute details on soft goods that can be accessed by project managers, captains, and owners, as well as shipyards.

Based in Fort Lauderdale, StellarPM is the creation of Christopher Holmes, a captain with project-management experience. While most yards obviously track general costs and change orders, Homes says there was nothing automated to this degree of detail. Over the course of more than three years, StellarPM was developed to readily show not just what has to be done, but by whom. It’s down to the smallest detail, like who installs a light switch, he explains. “It may not take long for a job estimated at a profit to start losing money, long before the yard is aware and the owner is informed that there is a problem,” Holmes says. “ProjectPerfect will eliminate financial and scheduling breakdowns.”

Here’s how it works. An account is created for a megayacht based on her projected delivery time. Holmes and his team at StellarPM create tasks, which are broken down into more details according to categories, like Schedule, Materials, and Workforce. Holmes says a 164-footer (50-meter) can have more than 20,000 associated tasks. A 120-footer (42.7-meter) can have 10,000 to 12,000 tasks. They’re customized according to the requests of the owner’s team or shipyard. In addition, each task has a further 25 levels of data, such as start date, completion date, the supervisor and craftsperson responsible, the vendor, and even the serial number for the part, if applicable.

Take Materials, for example, broken down in the screenshot here. For a steel or aluminum yacht, ProjectPerfect will track the number of plates ordered and their total costs. Under the same category, it does the same for copper pipes, watertight doors, and deck fittings. When it comes to the levels of data, StellarPM has the supervisors sign off not just on the completion date, but also the quality of the task’s completion. “That way if it’s not right, it gets redone,” Holmes explains.

Furthermore, any photos the owner’s representatives take during construction, as well as drawings, are uploaded to the system. Since ProjectPerfect is a cloud-based system, anyone provided with the secure login access can follow the progress in real time. ProjectPerfect is PC-compatible, as well as iPhone- and iPad-friendly.

Even better, ProjectPerfect remains with a yacht throughout changes in ownership. This is particularly key for future buyers. For example, imagine a leak is detected six months after the sale is completed. Rather than taking the yacht to a maintenance yard and ripping up the sole right away, the owner’s team can access images of the area. They can then review those to determine where holes need to be cut.
The overall goal of StellarPM is to provide peace of mind and transparency to all parties involved. Holmes has already tested ProjectPefect on a few yachts and is presently working with an American yard on tracking progress with another.

For more information directly from StellarPM about ProjectPerfect, please fill out our contact form.