To meet the current financial challenge, utility leaders should broaden their focus to include other business functions – such as oversight – that are contributing to the rising operations and maintenance (O&M) spend.
Overall Goals: Strengthen operational oversight, improve coverage, and stabilize standards while reducing overall station impact and cost
Targeted Savings: $1+ million annually per station
Based on StrategyDriven’s experience, $1+ million in annual savings – and improved safety and reliability – are available to nuclear utility operators in the near-term through the implementation of contemporary market-based business practices in the oversight area including:
- Establishing a coordinated, risk-based oversight approach that considers financial risk
- Defining, communicating, and reinforcing quantitative performance standards at all levels
- Further leveraging already existing operational and oversight data to reduce the number, significance, and/or frequency of oversight activities
…and numerous others!
Download Four Overlooked Controllable Costs to receive StrategyDriven’s complete list of $1+ million cost reduction opportunities in the areas of:
- Human Capital Management
- Information Technology
- Supply Chain / Inventory Management