Improving the energy efficiency of a vessel by optimising its hydrodynamic characteristics is sometimes limited by the fact that a vessel’s design condition may not coincide with its actual operating conditions. Bulbous bows are widely used to improve the hydrodynamic characteristics by means of primarily influencing a ship’s wave system and their use has become more widespread in recent years. This paper discusses the different parameters that affect bulbous bow performance in order to create a new perspective to their design. A taxonomy of bulbous bows is introduced that when populated and subdivided according to other useful criteria, will act as a crucial element in the development of the newly proposed research design methodology for bulbous bows. Preliminary work showing the benefit of installing a new system such as a morphological or adaptable bulbous bow is discussed. This, together with a review of bulbous bows, their influences and how they may be affected when in service, will act as a guide for a high level bulbous bow assessment.