The acceleration of the implementation of dual-use technology in China put forwards new requirements and challenges to the cost management of the traditional ship development projects. The state-of-art of the cost management of the traditional ship development projects in China is analyzed based on the modern project cost management theory. The full life-cycle cost management system of the ship development project with the dual-use technology is then proposed to provide corresponding countermeasures, including the structure, organization and method of the project cost management, etc.