Abstract
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.
Original language | English (US) |
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State | Published - 2022 |
Event | 16th International Conference on Probabilistic Safety Assessment and Management, PSAM 2022 - Honolulu, United States Duration: Jun 26 2022 → Jul 1 2022 |
Conference
Conference | 16th International Conference on Probabilistic Safety Assessment and Management, PSAM 2022 |
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Country/Territory | United States |
City | Honolulu |
Period | 6/26/22 → 7/1/22 |
ASJC Scopus subject areas
- Safety, Risk, Reliability and Quality