Running Head: RISK MANAGEMENT IN NUCLEAR POWER PLANTS

Natalia dos Santos Silva IEE 454

Risk Management in Nuclear Power Plants

Natalia dos Santos Silva
Arizona State University

RISK MANAGEMENT IN NUCLEAR POWER PLANTS

Natalia dos Santos Silva IEE 454

Abstract
As anyone can imagine, Nuclear Power plants can present much danger even in catastrophic
proportions. The most obvious risks involve safety, but they can also be related to operations and
economy of the company. For that, Risk Management is used to integrate these three main
focuses and, considering their relations, analyze the system as a whole. Risk management in
business is the forecasting and evaluation of risks together with the identification of procedures
to avoid or minimize their impact. That means identify what can possibly go wrong and try to
stop this error from happening or to make it as small as possible (International Atomic Energy
Agency, 2001).
The Risk Management program here was divided in four general steps that can be applied to
different approaches. The first is to identify, measure and assess the risk. That means figuring out
whether they are related to safety, operations, or finances. The second one is to determinate the
right Risk Management techniques. Should the risks be reduced, controlled, transferred, or
retained? That should be clear in this step. Steps three and four are consequently the
implementation of the chosen technique, and monitoring and giving feedback. These couple lasts
are interactive, and while the solutions are being implemented, feedback is being given so that the
process can remain updated to any changes occurring outside and inside the company
(International Atomic Energy Agency, 2001).

RISK MANAGEMENT IN NUCLEAR POWER PLANTS

Natalia dos Santos Silva IEE 454

Outline
1. Introduction
A) Risks in Nuclear Power Plants
B) Definition of Risk Management
C) Risk Management as a problem solving tool
2. Body
A) Different types of risks
I.
Safety
II.
Operations
III.
Economy
B) Correlation between Risks
C) Risk Management Framework
D) Steps to implement Risk Management in a Nuclear Power Plant
I.
Identify, measure and assess the risk
II.
Determinate the right Risk Management techniques
III.
Implementation of the chosen technique
IV.
Monitoring and giving feedback.
3. Conclusion
A) This process is a cycle and it keeps changing according to oscillations that may
happen inside or outside the company, and due to the discovery of new risks.

Bibliography

Hubbard, D. W. (2009). How do we know what works? In The failure of risk management: Why
it's broken and how to fix it. Hoboken, NJ: John Wiley & Sons.
International Atomic Energy Agency. (2001). Risk management: A tool for improving nuclear
power plant performance. Retrieved from http://wwwpub.iaea.org/mtcd/publications/pdf/te_1209_prn.pdf

RISK MANAGEMENT IN NUCLEAR POWER PLANTS

Natalia dos Santos Silva IEE 454

International Organization for Standardization. (2009). ISO 31000: Risk management :

principles and guidelines = management du risque : principles et lignes directrices.
Geneva: ISO.
Project Management Institute. (2008). A guide to the project management body of knowledge
(PMBOK Guide): PMBOK Guide. Newtown Square, PA: Author.