TY - CONF
T1 - A Systematic Enterprise Risk Management Framework for Modeling the Interactions of Safety and Financial Performance in Nuclear Power Plants
AU - Beal, John
AU - Farshadmanesh, Pegah
AU - Sakurahara, Tatsuya
AU - Reihani, Seyed
AU - Kee, Ernie
AU - Mohaghegh, Zahra
N1 - Funding Information:
This research is supported by the U.S. Department of Energy, Office of Science, Office of Nuclear Energy University Program (NEUP), Reactor Concepts Research Development and Demonstration under Award #17-12614. Part of this material is based upon work supported under a Department of Energy University Programs Graduate Fellowship. Any opinions, findings, conclusions, or recommendations expressed in this report are those of the authors and do not necessarily reflect the views of the Department of Energy, Office of Nuclear Energy.
Publisher Copyright:
© 2022 Probabilistic Safety Assessment and Management, PSAM 2022. All rights reserved.
PY - 2022
Y1 - 2022
N2 - This paper reports on the advancements made by the authors to theorize and quantify the interrelationships between safety and financial performance in nuclear power plants (NPPs). The authors developed an Integrated Enterprise Risk Management (I-ERM) framework which consists of several interconnected modules for incorporating factors including human/social contributing factors, physical degradation, component reliability/availability, and plant-level availability and safety risk models to generate safety and financial risk metrics for various operations and maintenance (O&M) strategies. This paper summarizes and provides updates to the progress made in this line of research, including advancements to the I-ERM theoretical basis and methodological contributions. The theoretical advancements in this project include developing causal models related to maintenance programs and the connection between safety and financial performance of NPPs. To demonstrate the I-ERM framework, this paper provides a NPP case study.
AB - This paper reports on the advancements made by the authors to theorize and quantify the interrelationships between safety and financial performance in nuclear power plants (NPPs). The authors developed an Integrated Enterprise Risk Management (I-ERM) framework which consists of several interconnected modules for incorporating factors including human/social contributing factors, physical degradation, component reliability/availability, and plant-level availability and safety risk models to generate safety and financial risk metrics for various operations and maintenance (O&M) strategies. This paper summarizes and provides updates to the progress made in this line of research, including advancements to the I-ERM theoretical basis and methodological contributions. The theoretical advancements in this project include developing causal models related to maintenance programs and the connection between safety and financial performance of NPPs. To demonstrate the I-ERM framework, this paper provides a NPP case study.
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M3 - Paper
AN - SCOPUS:85146252069
T2 - 16th International Conference on Probabilistic Safety Assessment and Management, PSAM 2022
Y2 - 26 June 2022 through 1 July 2022
ER -