Given the very long-term nature of a nuclear power plant and its associated site, it is essential to adopt a similarly long-term approach to the consequences of decision making and strategic direction from an early stage in the life of the nuclear power plant. Some management decisions will have significant implications and consequences that could affect the nuclear power plant for many decades.

In managing the life cycle stages of a nuclear power plant, many decisions have to be taken which can influence safe operation, but which must also balance long term stewardship of the organizations assets. Managing nuclear liabilities and assets requires profound understanding of the stages which make up the total life cycle of the nuclear power plant,. the mission of the owners, the political and economic environment within which it operates, the long term strategic direction, and the ability to assess the impact of decisions taken

For example, decisions taken during the conceptual design could have a substantial impact on waste handling and final decommissioning costs. The affect can be so great as to outweigh the income and benefit obtained through the operational stage of the nuclear power plant life.

Life cycle management is the integration of safety management, ageing management and business management decisions, together with economic considerations over the life of the nuclear power plant.

The nuclear power plant life cycle should therefore be considered as a single period covering all stages from design through decommissioning. This encompasses the early conceptual phase through approval, financing, construction, operation (including periodic safety reviews supporting plant life extensions), shutdown, and decommissioning to the eventual recovery of the site and includes the eventual disposal or re-accountability of responsibility for the fuel and waste. Therefore, in economic terms the full scope of the “life cycle” of a nuclear power plant describes that period when financial charges can be made against the nuclear power plant.

Questions:

1. Why is it is essential to adopt a long-term approach to decision making at an early stage in the life of a nuclear power plant?
2. In the text reference is made to the “stewardship” of assets. What synonym is used in the text for “stewardship”?
3. Decisions taken during the conceptual design phase could have such an effect as to do what?
4. In the text it states that: A profound understanding of the life cycle of the nuclear power plant is required in order to properly managing nuclear liabilities and assets. Which other four considerations are required to properly managing nuclear liabilities and assets?
5. From your understanding of the text express what “liabilities” and “assets” are in terms of “plusses” and “minuses”.
6. In economic terms what is the full scope of the “life cycle” of a nuclear power plant?

Answers:

1. Some management decisions will have significant implications and consequences for decades to come.
2. Management
3. As to outweigh the income and benefits over the lifetime of the nuclear power plant. 
4. the mission of the owners
   the political and economic environment
   the long term strategic direction
   impact assessment of decisions taken
5. Liability is a minus/Asset is a plus.
6. The period when financial charges can be made.