One problem with this method of building ships is, that you have to wait a turn for the individual components to be built, and sometimes you don't have a turn. (Like when that invading fleet is about to reach your homeworld!!) Another problem is that you have to be pretty sure you know what you want to build NEXT turn; it can be pretty tedious working out that you will need 6 pulsed lasers, 4 flake cannon... in fact sometimes you are even unsure of what type of HULL you will want next turn.

There is an alternative way to build ships, and it is somewhat simpler.
I won't describe it here because if you're interested, it is fully documented in the official Help Files (just search for "Quick Build").
The Help stuff is accessed through the (top right on the tool bar). You get a new window with a load of other page entries to select - but if you click on "Help Topics" in the header - then the "Index" tab  on the new pop-up window and type "quick" it should highlight an entry - double-click that entry and - read!!

Quick Build has its own disadvantages, mainly that you can't build ships which you do not have the tech levels to build. (This is a necessary anti-cheating precaution.) It may sound obvious that if you can't build tech 18 large weapons, you should not be allowed to use them. But in fact, it is quite normal to have a few Large Weapons and Engines around of unattainable tech levels, if you have managed to enslave Amphibian or Ghipsoid natives - they build them for you.