Did you know, the Chandrayan 2 (Indian spacecraft 2) only costs $140 million for the overall project which is $99,860 million less than what the USA spends on its Apollo missions of NASA?
The Chandrayan 2 that launched from GSLV MK III on 22nd July 2019. India is said to be the first country in the world to achieve the soft landing at the south pole of the Moon. The total costs of the project was calculated to $140 million.
This mission is at its highest peak due to its low costs. Because when the project was compared with various other projects, the results were as under
· China’s Chang’e 4 Lunar Craft cost $8.4 billion on its entire project in 2017
· USA ‘s Apollo Missions costs $25 Billion that makes it around $100 billion in current prices.
· Russia’s Moon Rocket costs $20 billion dollars in the 1960s
Now you might wonder why, as to how India was able to reduce its pricing in today’s scenario whereas other countries are such high?
The answer is the reduction in wastage which leads to minimizing & optimizing the mission’s costs. The Chairman of ISRO stated that they kept a very strict watch on each and every step of the development of their spacecraft or rocket which helped them wastage of products and which lead them to minimize the mission costs.
And almost the entire Chandrayaan 2’s orbiter, lander, and rover were designed and made in India which also helped them pay in the regional price which saves a huge amount when it is compared to be paid in foreign rates.
And this is just the beginning to lead the competition of the space missions. India is also planning to send a manned mission into the orbits by 2022.
Hence, as you can see, reduction in the wastage can lead to cost minimization which in return will help you lead the competition and sustain in the market. Even the space crafts have adopted and implemented cost optimization through wastage reduction, did you start implementing cost optimization?
Written & Compiled by Faber Priyal & Faber Mayuri