Toward Demonstrating the Monetary Value of Probabilistic Risk Assessment for Nuclear Power Plants

Inefficiencies in the operation and maintenance of Nuclear Power Plants (NPPs) have caused unnecessary shutdowns, decreases in production, and increases in system risk. Probabilistic Risk Assessment (PRA), which guides risk-informed decision-making, helps expand the operational envelope by allowing more flexibility, adding to the efficiency of preventive and corrective actions and, therefore, generates more profit. However, the financial bottom...