PSAM 16 - Paper Overview

PSAM 16 Conference Paper Overview

Welcome to the PSAM 16 Conference paper and speaker overview page.

Lead Author: John Beal Co-author(s): John Beal jabeal2@illinois.edu Wen-Chi Cheng wccheng2@illinois.edu Pegah Farshadmanesh pegah2@illinois.edu Tatsuya Sakurahara sakurah2@illinois.edu Seyed Reihani sreihani@illinois.edu Ernie Kee erniekee@illinois.edu Zahra Mohaghegh zahra13@illinois.edu

A Systematic Enterprise Risk Management Framework for Modeling the Interactions of Safety and Financial Performance in Nuclear Power Plants
This paper reports on the current status of a Nuclear Energy University Program (NEUP) sponsored project to develop a Systematic Enterprise Risk Management (ERM) Framework for assessing long- and short-term financial and safety risks as well as satisfying regulatory requirements for nuclear power plants (NPPs) using Probabilistic Risk Assessment (PRA) and other similar techniques. This project is designed to provide a comprehensive framework to aid NPP decision-makers in making decisions to improve safety, cost savings and avoid production loss. The authors are developing and enhancing an Integrated Enterprise RIsk Management (I-ERM) framework which consists of several interconnected modules which incorporate several factors including human/social contributing factors, physical degradation, component reliability/availability, as well as plant-level availability and safety risk models to generate safety and financial risk metrics for various operations and maintenance (O&M) strategies. This paper provides the current status of the development of the I-ERM framework and its implementation for a Loss of Coolant Accident (LOCA) NPP case study. This paper summarizes and provides updates to the progress made in this project, including advancements to the theoretical basis, methodological contributions, and the advanced implementation and development of the Integrated Probabilistic Physics of Failure (I-PPoF) module. The theoretical advancements in this project include defining and generating causal models related to financial risk in nuclear power plant operation and maintenance performance. These causal models help to provide some theoretical basis for the connection between financial and safety risk for the nuclear industry. These causal models can be applied to continue the development of the methodology for I-ERM, such that a full, comprehensive framework can be defined which is capable of providing valuable information related to safety risk, financial risk, and the underlying factors which affect these critical outputs. The methodological contributions made to this project establish a framework to compute these critical safety and financial risk metrics for various operations and maintenance strategies, taking inputs from the causal models generated as theoretical contributions. As an additional contribution to this project, advanced simulation of physical degradation mechanisms was used in the I-PPoF framework for an advanced reactor case study. The implementation of I-PPoF for an advanced reactor case study is a strong contribution of this project and demonstrates the ability of I-PPoF to integrate advanced physics with maintenance performance models to compute component reliability and availability in the form of pipe failure frequency and leak frequency with adequate consideration of uncertainties. This paper presents the progress made and ongoing work associated with the development of the I-ERM and I-PPoF frameworks and establishes the connection between safety and financial risk.

A Systematic Enterprise Risk Management Framework for Modeling the Interactions of Safety and Financial Performance in Nuclear Power Plants

This paper reports on the current status of a Nuclear Energy University Program (NEUP) sponsored project to develop a Systematic Enterprise Risk Management (ERM) Framework for assessing long- and short-term financial and safety risks as well as satisfying regulatory requirements for nuclear power plants (NPPs) using Probabilistic Risk Assessment (PRA) and other similar techniques. This project is designed to provide a comprehensive framework to aid NPP decision-makers in making decisions to improve safety, cost savings and avoid production loss. The authors are developing and enhancing an Integrated Enterprise RIsk Management (I-ERM) framework which consists of several interconnected modules which incorporate several factors including human/social contributing factors, physical degradation, component reliability/availability, as well as plant-level availability and safety risk models to generate safety and financial risk metrics for various operations and maintenance (O&M) strategies. This paper provides the current status of the development of the I-ERM framework and its implementation for a Loss of Coolant Accident (LOCA) NPP case study. This paper summarizes and provides updates to the progress made in this project, including advancements to the theoretical basis, methodological contributions, and the advanced implementation and development of the Integrated Probabilistic Physics of Failure (I-PPoF) module. The theoretical advancements in this project include defining and generating causal models related to financial risk in nuclear power plant operation and maintenance performance. These causal models help to provide some theoretical basis for the connection between financial and safety risk for the nuclear industry. These causal models can be applied to continue the development of the methodology for I-ERM, such that a full, comprehensive framework can be defined which is capable of providing valuable information related to safety risk, financial risk, and the underlying factors which affect these critical outputs. The methodological contributions made to this project establish a framework to compute these critical safety and financial risk metrics for various operations and maintenance strategies, taking inputs from the causal models generated as theoretical contributions. As an additional contribution to this project, advanced simulation of physical degradation mechanisms was used in the I-PPoF framework for an advanced reactor case study. The implementation of I-PPoF for an advanced reactor case study is a strong contribution of this project and demonstrates the ability of I-PPoF to integrate advanced physics with maintenance performance models to compute component reliability and availability in the form of pipe failure frequency and leak frequency with adequate consideration of uncertainties. This paper presents the progress made and ongoing work associated with the development of the I-ERM and I-PPoF frameworks and establishes the connection between safety and financial risk.

Paper JA258 Preview

Author and Presentation Info

Lead Author Name: John Beal (jabeal2@illinois.edu)

Bio: Graduate Research Assistant at the Socio-Technical Risk Assessment (SoTeRiA) Laboratory at the University of Illinois at Urbana-Champaign

Country: United States of America
Company: University of Illinois at Urbana-Champaign
Job Title: Graduate Research Assistant

PSAM 16 Conference Paper Overview

Welcome to the PSAM 16 Conference paper and speaker overview page.

Paper JA258 Preview

Author and Presentation Info

Download paper JA258.