Reconcile Safety and Reliability with Cost: A Proven Approach to Optimize Project Spending at Nuclear Power Plants (white paper)
Most nuclear plants require some form of business case before a significant project is approved. These business cases, however, often “just go through the motions,” resulting in higher than necessary budgets and crowding out other important projects in the portfolio. A successful business case and project review process requires an active Executive Review Team and robust business cases to quantify alternatives and structure evaluation of cost-risk tradeoffs. This process helps ensure power plants meet their reliability goals in the most cost-effective manner. Moreover, when led by senior plant management, this approach can produce cost savings of 20%-60%, thereby reducing the strain on power plant capital and operating budgets.