4. Implement individual-project best practices. Applying best practices for large-scale investment projects can reduce the likelihood of cost and schedule overruns. In our experience, proven strategies and management tactics for successful megaprojects in other industries apply in the nuclear context in areas including site productivity; schedule optimization; cost control; commissioning and operational readiness; quality, project control, and risk management; and project organization and governance. Lessons from other industries will be invaluable if nuclear is to succeed. 5. Implement industry-wide best practices for scaling up. Toward that end, an asset-heavy industry can take several steps: • Establish standard designs. Create an industry body to identify and implement standards for plant systems and components, which could streamline regulatory processes, engineering, and supply chains. • Use a replicable model for construction. Building plants in rapid succession with a standard design will help workforce skills to remain relevant, the industrial base to scale up, and lessons from each build to inform successive builds. • Repeat siting. Historically, building multiple reactors at a single location has proved to significantly reduce costs for successive build-outs—by minimizing mobilization costs, utilizing shared buildings and structures, and maintaining the necessary workforce for follow-on units. • Increase use of modular construction for standardized components. In the 1960s, for example, the shipbuilding industry largely moved from bespoke, full-scale onsite construction to a more modular, “hull block” process, whereby sections are prefabricated in workshops and final assembly occurs in the drydock. For the nuclear industry,
modular construction of plant sections can substantially drive down costs as processes become more predictable and repeatable, construction environments more controlled, workforces more stable, rework less frequent, and manufacturing times more efficient. 6. Proactively coordinate and scale the industrial base. Supply chain bottlenecks are likely to emerge if the industry scales up quickly. Potential bottlenecks could affect, for example, heavy forgings for reactor pressure vessels, instrumentation, and control systems, as well as specialized nuclear-safety-rated (“N-stamped”) valves for critical control systems. More new- build program support by governments could boost investor confidence in building out supply chains for such components before construction begins. In addition, industry players can consider establishing centers of excellence to develop new manufacturing processes and help qualify more suppliers of components to meet the necessary performance and quality standards for the nuclear supply chain. 7. Maintain the reliable and safe operation and maintenance (O&M) of current plants while continuing to improve financial performance. Today’s plants operate safely and reliably, but they face increasing economic challenges. For example, declining costs for wind and solar have forced nuclear providers in many markets to stay competitive on price, which has tightened margins. Maintaining today’s nuclear capacity through safe, reliable, and cost-efficient operation of existing plants would help to keep them running (instead of shutting them down because of high operational costs) and potentially help preserve current supply chains and the workforce. 8. Expedite development of next-generation reactors. Accelerating commercial deployment of Gen-III+ and Gen-IV technologies could, over time, reduce capital costs and speed up plant build-outs through “learning by doing,” more efficient supply chains, and other benefits.
Accelerating the journey to net zero
106
Made with FlippingBook Online newsletter maker