Maintenance and modernization of the U.S. Navy fleet is big business. To get the most value for each dollar spent, the Navy has invested substantial fiscal and human resources to standardize the processes used to accomplish maintenance, modernization and repair for its fleet of ships. As technology continues to advance at an exponential rate, reliable and quantitative measures which capture and measure the full gamut of benefits provided by technology resources are essential. An analytic form of analysis known as the Knowledge Value Added (KVA) methodology will be used in this thesis to capture and quantify the benefits of the ship maintenance and modernization (SHIPMAIN) program and the potential benefits offered by a reengineered process. A proof of concept case was developed to analyze current maintenance and modernization efforts for combatant ships of the Navy's surface forces. Using the current status as a baseline analysis, the KVA methodology is applied to a notional scenario which uses 3D laser scanning and Product Lifecycle Management to reengineer the current process. The notional scenario demonstrates positive returns from the reengineered process and the KVA methodology establishes evidence which suggests that operating costs will be reduced by nearly $78 million annually.