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Application of the risk-informed asset management (RIAM) method and associated decision support metrics described herein provides rigorous, systematic, prudent decision-making support for proposed changes to plant equipment and associated operation and maintenance practices and policies at commercial nuclear power plants. A concept for preparing and implementing RIAM programs for power stations and generating companies has been presented herein. The primary figures-of-merit for change are profitability and safety whereby profitability is optimized within the constraints defined by recommended safety limits. The RIAM process presented uses a three-tier screening concept in conjunction with a plant availability model and safety model (event frequency modeling) to help efficiently and accurately identify profitable changes and to quantify impacts on safety. Because plant (or fleet) change decisions are generally associated with a high degree of uncertainty. The RIAM method presented includes uncertainty quantification to aid decision-makers in making decisions for favorable outcomes.