Integrated risk management (IRM) is particularly important during the preparation and construction phases of a nuclear power plant (NPP) and anticipates the risks that could arise during the operation and decommissioning phases. This publication is designed to enhance stakeholders' understanding of the fundamental processes, procedures, and methods for IRM. Practical guidelines are provided and best practices shared. The importance of having appropriate risk management policies, especially when considering the various contractual and organizational arrangements in different construction entities, operating organizations and Member States is emphasized. Tables are provided throughout the publication to indicate the causes of risks and their impacts on the applicable NPP or project. Economic evaluation techniques are also introduced. Member States contemplating expanding their existing nuclear power plant fleets can be expected to benefit from this publication, but it will likely be most valuable for Member States newly embarking upon a nuclear power programme.

• 1. Introduction
  • 1.1. Background
  • 1.2. Objective
  • 1.3. Scope
  • 1.4. Structure
  • 1.5. Users
• 2. Steps of risk management
  • 2.1. Risk identification
  • 2.2. Techniques and strategies to manage risks
    • 2.2.1. Risk registers
    • 2.2.2. Qualitative and quantitative risk analysis
    • 2.2.3. Risk strategies
  • 2.3. Implement risk management strategies
  • 2.4. Monitor solution effectiveness
• 3. Sources of risks
  • 3.1. External risks
    • 3.1.1. Project stakeholder related risks
    • 3.1.2. Government policy, political climate and energy planning
    • 3.1.3. Commercial and financial risks
    • 3.1.4. Supply chain risks
  • 3.2. Internal risks
    • 3.2.1. Mandate and business strategy
    • 3.2.2. Organizational culture and style
    • 3.2.3. Access to personnel, facilities and equipment
    • 3.2.4. Processes, procedures and knowledge
• 4. Economic risk evaluation
  • 4.1. Modelling nuclear project economics
    • 4.1.1. Cost assumptions
    • 4.1.2. Schedule assumptions
    • 4.1.3. Economic and financial assumptions
    • 4.1.4. Revenue assumptions
  • 4.2. Drivers of lifetime economics of NPPs
  • 4.3. Options for managing risk
    • 4.3.1. Transferring/contracting out of risk
    • 4.3.2. Pass risk to third party
    • 4.3.3. Mitigate the risk
    • 4.3.4. Add cost contingency to cover the risk
  • 4.4. Accounting for risk in the economic model
    • 4.4.1. Including risk in the economic model inputs
    • 4.4.2. Implementing lifetime risk analysis with the economic model (scenario analysis)
  • 4.5. Setting risk tolerance and defining a mitigation plan
• 5. Project development phase risk management
  • 5.1. IAEA milestones approach
  • 5.2. World Nuclear Association analysis
  • 5.3. Pre-project planning
  • 5.4. Management systems
  • 5.5. Regulatory and licensing Management
  • 5.6. Siting and land Acquisition
    • 5.6.1. Land acquisition
    • 5.6.2. Site preparation
• 6. Construction phase risk management
  • 6.1. Project Management
    • 6.1.1. Scope control
    • 6.1.2. Front end planning
    • 6.1.3. Project estimating
    • 6.1.4. Project scheduling
    • 6.1.5. Project metrics
    • 6.1.6. Stakeholder alignment
    • 6.1.7. Maintenance of community engagement and support
    • 6.1.8. Roles and responsibilities
    • 6.1.9. Independent project oversight
    • 6.1.10. Internal project risk management
    • 6.1.11. Project contract and procurement strategies
    • 6.1.12. Project change control
    • 6.1.13. Project delay/suspension provisions
  • 6.2. Engineering readiness
    • 6.2.1. Engineering documentation
    • 6.2.2. Feedback incorporated
    • 6.2.3. Engineering planning and management
    • 6.2.4. Design change process
    • 6.2.5. Configuration management, controlled documents and records
    • 6.2.6. Computer/cyber security
    • 6.2.7. Delayed project (if applicable)
    • 6.2.8. Engineering programmes
    • 6.2.9. Engineering quality
  • 6.3. Procurement, material and supply chain readiness
    • 6.3.1. Equipment and material availability
    • 6.3.2. Procurement procedures and plans
    • 6.3.3. Packaging, warehousing and transportation
    • 6.3.4. Material inspection
    • 6.3.5. Quality assurance and quality surveillance
  • 6.4. Construction readiness
    • 6.4.1. Site infrastructure requirements
    • 6.4.2. Regulatory requirements
    • 6.4.3. Tools availability
    • 6.4.4. Construction sequencing
    • 6.4.5. Security and safeguards requirements
    • 6.4.6. Construction execution plans and procedures
    • 6.4.7. Environmental management
    • 6.4.8. Safety management
    • 6.4.9. New construction practices and technologies
  • 6.5. Construction completion assurance/system turnover process
  • 6.6. Commissioning risk management
  • 6.7. Quality management and records
  • 6.8. Human resources and training
• 7. Operation phase risks
  • 7.1. Safety
  • 7.2. Production and operations policies and programmes
    • 7.2.1. Maintenance and refuelling outage policies
    • 7.2.2. Spare parts policy
    • 7.2.3. Configuration management programme
    • 7.2.4. Engineering programmes
  • 7.3. Mitigation and reduction of operational risks
    • 7.3.1. Enterprise risk management
    • 7.3.2. Information sharing
    • 7.3.3. Corrective action programme
  • 7.4. Financial/commercial risk management
• 8. Decommissioning phase risks
  • 8.1. Decommissioning risks
    • 8.1.1. Initial condition of the facility
    • 8.1.2. End state of the decommissioning project
    • 8.1.3. Organization and human resources
    • 8.1.4. Finance
    • 8.1.5. Legal and regulatory framework
• 9. Conclusions
• Appendix ISAMPLE RISK MATRIX AND NPP PROJECT RISK LIST
• Appendix IIRISK MESSAGES FROM SELECTED IAEA INFRASTRUCTURE BIBLIOGRAPHY ITEMS
• Appendix III Examples of Engineering documentation related to NPPs
• REFERENCES
• LIST OF ABBREVIATIONS
• CONTRIBUTORS TO DRAFTING AND REVIEW
• STRUCTURE OF THE IAEA NUCLEAR ENERGY SERIES