Abstract: An improved method of selecting and planning the performance of various maintenance activities on a facility such as a nuclear power plant includes determining the net present value of a number of future net savings that are expected to result from performance of the maintenance activity at a given time, and selecting and planning the maintenance activities in a fashion that maximizes net present value. The method includes, for each of a number of components and a number of time periods, determining a change in the probability that a component will fail within a time period, with the change resulting from an assumption that a maintenance activity is performed. The change in probability is multiplied with the losses associated with a failure in order to determine a gross savings from which costs are subtracted to determine net savings.

Abstract: An improved method of characterizing the potential financial benefit to a facility such as a nuclear power plant that would result from various groups of possible activities includes determining a number of goals for the facility, identifying groups of activities that could effect achievement of the goal and, for each group of activities, determining a probability distribution on net present savings corresponding with implementation of the group of activities. The method includes identifying a number of operational parameters having an uncertainty and allowing the uncertainty to propagate through the method to provide the probability distribution on net present savings. A plurality of Monte Carlo trials are performed on the operational parameters to result in the probability distribution on net present savings that corresponds with implementation of the group of activities compared with a baseline group of activities.

Abstract: A probabilistic method for optimizing the inspection of a heat exchanger that determines the maximum number of degraded tubes that can be permitted to remain in service for a contemplated interval of time without exceeding an allowable probability of a tube burst, based upon Extreme Value Probability Distribution theory. The method also determines the minimum number of tubes that need to be inspected to establish that no more than the determined maximum number of degraded tubes will be permitted to remain in service for the contemplated interval of time based upon Bayesian Acceptance Sampling Theory.

Abstract: A probabilistic method for optimizing the inspection of a heat exchanger that determines the maximum number of degraded tubes that can be permitted to remain in service for a contemplated interval of time without exceeding an allowable probability of a tube burst, based upon Extreme Value Probability Distribution theory. The method also determines the minimum number of tubes that need to be inspected to establish that no more than the determined maximum number of degraded tubes will be permitted to remain in service for the contemplated interval of time based upon Bayesian Acceptance Sampling Theory.