ISO 55000:2014 [2] defines asset management as “coordinated activity of an organization to realize value from assets”, where an asset is an “item, thing or entity that has potential or actual value to an organization”. Asset management for nuclear power plants is defined by the NEI as “the process for making resource allocation and risk management decisions at all levels of a nuclear generation business to maximize value/profitability for all stakeholders while maintaining plant safety” [4]. According to these definitions, asset management has the potential to include a significant scope that encompasses plant safety, for example everything within a given organization and aspects such as its supply chain. The concepts of what constitutes an asset are discussed in more detail in Section 2.2.
Asset management identifies the activities needed to support operational objectives and to ensure they are aligned strategically. Typically, the supporting activities (or functions) may already be undertaken in an organization (potentially under a different name), and the process of asset management reviews and aligns these activities, rather than replace them. This alignment can help to coordinate many activities at
a nuclear power plant, such as providing line of sight of organizational objectives and decision making throughout the plant’s lifetime (design, construction, O&M, decommissioning). It also provides an understanding of how decisions support, or are influenced by, corporate objectives.
2.1. ASSET MANAGEMENT AND VALUE
Value can have multiple meanings, three of which are defined by ISO 55002:2018, Asset Management: Management Systems — Guidelines for the Application of ISO 55001 [5] as:
“a) value generation (benefits from use, ownership or custodianship of assets);
b) value determination (such as valuation of assets or the organization, for example, the sale price of the asset or organization, if you sell it);
c) values (principles that guide an organization’s internal and external conduct).”
This publication refers to value in the context of value generation. In this sense, asset management can provide a platform of coordinated decision making across an organization, focusing on maximizing value throughout its lifetime. Value typically refers to the ability of an asset (structure, system, component, person, process) to deliver the required capability throughout the life of the plant. The focus is thus long term value rather than a sole emphasis on short term cost (see Fig. 2).
The value model provides a framework to structure thinking about the value of asset management and forms the basis for building models to support decision making in an organization. It is not developed further in this publication but is referenced as a useful tool for organizations to use as required. The value model includes the following aspects:
(a) External corporate/governmental value level:
— Assured energy supply;
— Reputation with regulator and public delivered through safe operations;
— Reduced environmental footprint (e.g. low carbon generation);
— Safe and cost effective electrical energy production;
— Long term opportunities for highly skilled jobs and investment in the community.
(b) Internal organizational value:
— Confidence in safe operations;
— Consistent, informed decision making;
— Safe and cost effective energy production and O&M;
— Training and assignment of competent, experienced personnel throughout the lifetime of the plant.
2.2. DEFINITIONS
The definitions used in this publication are the following:
(a) Asset: The term can mean different things, and the perspective from which the word is used in this publication is important. At the highest (national) level, the asset is the nuclear power plant fleet that provides safe, low carbon electricity to the grid, ensuring security of supply (see Fig. 3).
(b) Asset management policy and strategy: The translation of organizational objectives into asset management objectives and coordinated activities from across the organization through which the objectives can be achieved. Typically, this connects the strategy with the approach to be taken to develop individual asset management plans.
Value
FIG. 2. The value model asset management to an organization. Source: fig. 1 of Ref. [6].
Regulator FIG. 3. Meaning of asset at various levels.
(c) Asset management objectives: A derivation of the overarching organizational objectives that are to be achieved through the delivery of the asset management system.
(d) Asset management plans: This term specifies, for an asset or group of assets, the activities that will be undertaken (e.g. proactive replacement, inspection, run to failure), associated responsibilities and resources, supported by timescales for these activities.
(e) Audit: An organization’s process for reviewing and auditing the effectiveness of its asset management processes.
At the lowest level, an asset is the individual equipment item (e.g. pump) that fulfils a purpose, or even the component parts that make up the pump. In nuclear power plants, assets have historically been viewed as the structures, systems and components (SSCs) that comprise the plant. However, there is a growing recognition that this definition can extend to tangible items that add value such as processes, personnel or knowledge, and other items such as resources (i.e. people, materials), inventory, contracts, documents, software and information.
2.3. BENEFITS OF ASSET MANAGEMENT TO AN ORGANIZATION
The ‘value’ described in Section 2.1 and Fig. 2 is realized through the improved performance of the organization. There are several quantifiable benefits of implementing an asset management programme at nuclear power plants. They will be explained in detail further in the publication. Some benefits of asset management in the nuclear electricity generation include the following:
— Optimized life cycle costs;
— Identified and managed risk (financial and physical);
— Optimized maintenance activities;
— Reduced system failures;
— Reduced unplanned outages;
— Increased capacity factor;
— Increased generation output;
— Increased nuclear fleet performance;
— Maximized profitability while maintaining a high level of safety and sustainability;
— Extended lifetime operation.
2.4. ASSET MANAGEMENT AND UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS
A good asset management programme can give assurance that assets will fulfil an organization’s corporate and social responsibility and indirectly support the United Nations Sustainable Development Goals (SDGs) [7] (see Annex V for more details). Effective asset management, as defined in standards such as ISO 55000:2014 [2], supports these goals because it requires the following from the organization:
“1) developing and implementing processes that connect the required purposes and performance of the assets to the organizational objectives;
2) implementing processes for assurance of capability across all life cycle stages;
3) implementing processes for monitoring and continual improvement;
4) providing the necessary resources and competent personnel for demonstration of assurance, by undertaking asset management activities and operating the asset management system.”
Depending on the industry, asset management can contribute to the following SDGs [7]:
— Goal 6: Ensure availability and sustainable management of clean water and sanitation for all.
— Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all.
— Goal 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
— Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
— Goal 11: Make cities and human settlements inclusive, safe, resilient and sustainable.
— Goal 12: Ensure sustainable consumption and production patterns.
— Goal 13: Take urgent action to combat climate change and its impacts.
Asset management in the nuclear sector can contribute directly to affordable clean energy and climate action goals, and indirectly supports other SDGs, while maintaining a high level of safety in plant operation and integrating long term liabilities for waste and decommissioning.