Project evaluation has been in place at many plants for years. Engineers are familiar with how to complete business cases and management is certainly capable of evaluating proposed projects. However, over time, this process has lost its sense of purpose at many plants. Merely going through the motions does not lead to better project spending. Plant management must reinvigorate this process!

MCR's project evaluation process directly links to Nuclear Asset Management by giving direction to the long range planning and budgeting process. Our project evaluation process considers corporate strategies, cost and reliability targets to determine which projects have merit. Business cases are developed for each project with merit. These rigorous business cases allow senior management to qualitatively prioritize projects into "must do" and "discretionary" pools. In our experience, an improved project prioritization process ensures power plants meet reliability goals and can lead to a 20-30% reduction in annual project spending.

For more information on business cases and the project evaluation process, read our article, Achieve Reliability Goals and Save at least 20%. Developing Robust Business Cases to Optimize Project Spending in Nuclear Power Plants.

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