Driving Innovation and Sustainable Cost Reductions for the Nuclear Generation Sector
ScottMadden frequently helps utilities to identify and implement cost-reduction strategies. Contact us to learn how we can help support your operational effectiveness projects.
At a Glance
Cost Management
Implemented four industry-leading cost management processes to prevent future cost overruns:
- Contractor management
- Baseline internal staffing controls and reporting
- Overtime tracking and control
- Site and fleet “checkbook” process to address emergent financial issues
Visibility and Accountability
Helped the client prevent cost overruns by increasing the following:
- Visibility for non-budgeted expenses
- Accountability for O&M spend
- Visibility into monthly cost variances
Immediate Results
13% reduction of baseline overtime expenses within the first six months of implementation
Challenge
ScottMadden assisted the nuclear business operations organization of a large utility to implement industry leading cost control processes, forms, and tools. The effort resulted in a 13% reduction of baseline overtime expenses within the first six months of implementation.
Process
- Implemented four industry-leading cost management processes consistently across the nuclear fleet to prevent future cost overruns. The four cost management processes included contractor management, baseline internal staffing controls and reporting, overtime tracking and control, and a site and fleet “checkbook” process to address emergent financial issues
- Trained the fleet’s business operations personnel on the new financial controls processes
- Assisted the business operations staff to train their site and corporate managers on the new processes and reports
- Developed a road map of future cost control processes
Result
- Increased visibility and a prioritization scheme for non-budgeted expenses
- Provided consistent site cost reporting and cost management practices
- Increased accountability for O&M spend among site leadership personnel
- Increased visibility into monthly cost variances
- 13% reduction of baseline overtime expenses within the first six months of implementation
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