A proposed strategy against cost overruns in the space sector: The 5C approach

The space sector has frequently been confronted with cost overruns, with a negative impact on its management reputation. There are many reasons for this effect, the main one being that space development contracts are unique and often do not allow proper cost benchmarking. On the other hand, tools have been developed to minimise this effect and it is important to train future space managers in applying such tools. In the International Space University, such methods are illustrated with workshops, which aim to be as close as possible to reality. This article will describe the different techniques, memo-technically called the 5C approach here, and develop the use of a computerised tool, PRICE, to support these techniques in the different phases of the projects.