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(EST-3656) How to Estimate Construction Costs of a Nuclear Power Plant

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Level: Basic
TCM Section(s):
7.3. Cost Estimating and Budgeting
Venue: 2021 AACE International Conference & Expo

Abstract: In today's technologically advanced and competitive economy, there is a growing interest in the utilization of nuclear fission energy to guarantee a reliable power-load base and carbon free electricity but we are seeing cost competitive nuclear projects in developing countries, then traditional countries.

Every project starts with a cost estimate and for new build nuclear projects cost estimates are as essential as is a reliable process to create them. A high-quality cost estimate is decisive and critical after scope and schedule definition.

It is not easy to estimate the cost of a nuclear power plant; a large amount of time, an expert team and a reliable process are required to develop realistic cost estimates.

The purpose of this paper is to describe the development of class 3 capital cost estimates of a nuclear grade turbine building and of an administration building for a new build Pressurized Water Reactor plant (PWR NPP) under construction in the Middle East.
Quality assurance, safety and seismic regulation are essential cost drivers: their different impact on cost development of the two buildings will be shown.

The variability of the two building cost estimates will be assessed through uncertainty and risks analysis.