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This paper aims to review the current practice in cost engineering, identify the scientific research challengesand suggest future direction of this area research. It has been developed based on both the outputs from the academic forum of cost engineering at Cranfield University in the UK and the state of art on cost engineering research. The promising future research subjects in Cost Engineering have been identified and discussed in detail such as understanding the factors impacting design rework; cost estimation using CAPP information; estimating the uncertainties through life cycle; and developing uncertainty modelling methods.

This paper has been peer-reviewed but does not include the final publisher proof-corrections or journal pagination.

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Purpose The purpose of this paper is to explore the basic principles and introduction of the Hoshin Kanri (HK) strategic management system, as related to the management practices in manufacturing small- and medium-sized enterprises (SMEs). Design/methodology/approach This paper reports the findings from the introduction of HK to four manufacturing SMEs by following an assistance support-based research approach where teams of coaches and researchers observed and learned from the introduction phase. The overall design of the project is theory building and learning oriented. Findings It is suggested that the successful introduction of a strategic management system in manufacturing SMEs has to balance the inherent level of formalization therein, with the individual company’s management practices. Based on HK as the strategic management system, pDCA is proposed as an alternative approach to the introduction, matching differences in management practices. Research limitations/implications The explorative nature of this research provides room for subsequent studies by elaborating the knowledge on the introduction of strategic management systems in SMEs. Practical implications Awareness of the existing managerial practices is essential when introducing a new strategic management system in manufacturing SMEs. Such awareness is the starting point of customizing the introduction, so that proper levels of engagement and flexibility can be balanced with increasing systematic formalization, and optimized adequacy. Originality/value Following an assistance support-based research approach the result of this research project is summarized in the iterative pDCA model emphasizing engagement and flexibility when incrementally introducing strategic management systems in SMEs. This model addresses a hitherto under-researched topic in strategic management.