Systematic Enterprise Risk Management by Integrating the RISMC Toolkit and Cost-Benefit Analysis (Final Report)
- Univ. of Illinois at Urbana-Champaign, IL (United States)
- South Texas Project Nuclear Operating Company, Bay City, TX (United States)
The goal of this research is to theorize and quantify the relationships between safety and the financial performance of nuclear power plants (NPPs). The Socio-Technical Risk Analysis (SoTeRiA) theoretical framework, which connects the social aspects (e.g., safety culture) and structural features (e.g., safety practices) of an organization with organizational safety and financial risks, is used to theorize the direct and indirect relationships between safety and the financial performance of NPPs. An Integrated Enterprise Risk Management (I-ERM) methodological framework is developed to operationalize SoTeRiA to quantify NPP safety and financial performance in a unified platform where their underlying physical degradation mechanisms, coupled with maintenance performance (considering human and organizational factors), are explicitly incorporated to depict the interconnections and dependencies between safety and financial performance. In this study, NPP safety refers to both occupational safety and system safety (estimated from Probabilistic Risk Assessment, PRA), and financial performance refers to the monetary values associated with NPP operation and maintenance (O&M) strategies. This report covers a case study demonstrating the feasibility of the I-ERM methodological framework. More detailed development of one of the I-ERM modules, i.e., Probabilistic Physics-of-Failure (PPoF) analysis, and its connection with other I-ERM modules is demonstrated in a second case study. The outcome of this research will help NPP decision-makers create cost-saving maintenance strategies while maintaining safety by providing cost- and risk-informed recommendations regarding maintenance work processes and operational strategies.
- Research Organization:
- Univ. of Illinois at Urbana-Champaign, IL (United States); South Texas Project Nuclear Operating Company, Bay City, TX (United States)
- Sponsoring Organization:
- USDOE Office of Nuclear Energy (NE), Nuclear Energy University Program (NEUP)
- DOE Contract Number:
- NE0008700
- OSTI ID:
- 1817917
- Report Number(s):
- DOE-UIUC-0008700; 17-12614; TRN: US2300740
- Country of Publication:
- United States
- Language:
- English
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