Nuclear Renaissance Requires Disciplined Planning and Risk Management, Expert Says
Christopher Dann, an SDG partner with extensive experience in strategic planning and decision-making in nuclear power, tells industry executives that the nuclear renaissance will largely depend on their ability to meet schedules and budgets.
WASHINGTON – November 6, 2009 – Christopher Dann of management consulting firm Strategic Decisions Group warned assembled nuclear industry executives that the future of the nuclear renaissance in the US will depend upon their ability to convince investors, regulators, and the public that they can successfully deliver new nuclear projects on time and on budget.
Mr. Dann, a partner and director of the firm’s Energy & Environment Practice, made his remarks at the 2009 Nuclear Construction Summit, a forum for those involved in planning and executing new nuclear construction projects in the US.
More than 150 industry experts, utility company executives, reactor construction companies and contractors attended the two-day event last week in Washington, DC.
“The central challenge for the nuclear industry is to demonstrate the commercial viability of new nuclear plants in the US,” said Mr. Dann. “This will require disciplined advance planning and risk management as well as incorporation of best practices and lessons learned from other large nuclear and non-nuclear capital projects.”
Mr. Dann and his colleagues at Strategic Decisions Group are currently working with several of the developers of new nuclear plants in the US to develop strategy and manage risks of these large scale investments.
“Successful execution of these projects will require careful, disciplined advance planning, a comprehensive analysis of the risks to the schedule, construction costs, and economic performance of these plants and a thorough risk mitigation strategy,” said Mr. Dann.
In his talk, Mr. Dann advised industry leaders how to identify the drivers of economic value and risk to a new nuclear project and recommended probabilistic risk assessment to reduce exposure to costly overruns. He also discussed risk mitigation strategies and best practices from nuclear and other large capital projects.
About SDG
Founded in 1981, Strategic Decisions Group is an international management consulting firm renowned for its expertise in strategic decision-making, risk management, and shareholder value creation. Through a collaborative, team-based approach, SDG helps clients find innovative, creative strategies to thrive today, while also helping them build internal competencies and more effective decision-making processes to meet competitive challenges in the future. SDG has offices in North America, the Middle East, and India.
