Application of a Parametric Sensitivity and Uncertainty Analysis Method on Economic Evaluation of SSC Improvement Plan

EPRI developed two economic evaluation tools, LcmVALUE and LcmPLATO. KHNP has used the LcmVALUE tool to assess the mid-term and longterm structure, system and components (SSC's) investment plan. LcmVALUE uses the investment cost, failure rate, preventive maintenance cost, and other input parameters to calculate the net present value (NPV) and benefit/investment (B/I) ratio. The results are useful for selecting the most cost-effective investment plan. This tool shows just one result, namely the amount gained or lost. However, the input parameters can be changed by a foreign effect such as the market environment or by their own inaccuracies (such as the failure rate of the SSC). Accordingly, a parameter sensitivity analysis and an uncertainty analysis are needed to determine the influence of changes in the input parameters. We introduce the two methods of analysis as well as a newly developed economic evaluation program