Course in Financial Models for Decommissioning
Online 300-hour course in financial models for decommissioning. 6 modules covering IAEA GSR Part 6 (decommissioning of facilities), ISDC (International Structure for Decommissioning Costing, OECD/NEA-IAEA-EC) and CERREX-D2 (IAEA). Assigned tutor and open enrolment.
Take the controls.
Run a real engineering trade-off from this programme. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Describe the phases and cost structure of nuclear decommissioning.
Estimate costs using the ISDC structure and parametric methods.
Build financial models of fund provisioning and fund returns.
Quantify cost risk and uncertainty through simulation.
Analyse the accounting treatment of decommissioning provisions.
Evaluate contracting, control and project governance models.
Develop an integrative financial model of a decommissioning project.
Who it's for
- Decommissioning financial analyst looking to specialise in Financial Models for Decommissioning.
- Nuclear cost estimator looking to specialise in Financial Models for Decommissioning.
- Decommissioning project manager looking to specialise in Financial Models for Decommissioning.
- Project controller looking to specialise in Financial Models for Decommissioning.
- Financial risk consultant looking to specialise in Financial Models for Decommissioning.
- Decommissioning fund management technician looking to specialise in Financial Models for Decommissioning.
- Engineering or science graduates looking to enter nuclear decommissioning.
What you'll work with
- IAEA GSR Part 6 (decommissioning of facilities)
- ISDC (International Structure for Decommissioning Costing, OECD/NEA-IAEA-EC)
- Recommendation 2006/851/Euratom (financial resources for decommissioning)
- Directive 2011/70/Euratom (responsible management of spent fuel and waste)
- NIC 37 (provisions, contingent liabilities and contingent assets)
- 10 CFR 50.75 (decommissioning funding, NRC)
- AACE 18R-97 (classification of cost estimates)
- Royal Decree 102/2014 (responsible management of spent fuel and waste)
6 modules · 300 h
1.1What decommissioning costs and why it varies so much1.2Cost components: works, waste, personnel and licences1.3Cost of spent fuel and its management1.4Decommissioning strategy and its economic effect1.5Standardised cost breakdown structure1.6Currencies, inflation and constant prices1.7Time horizon of several decades1.8International experience of actual costs1.9Data sources and comparability1.10Exercise: break down the cost of a published case
2.1Parametric and analogy-based methods2.2Detailed estimation by activity2.3Learning curves and productivity2.4Estimation of waste volumes2.5Unit management prices by category2.6Surveillance and maintenance costs during waiting periods2.7Indirect and project management costs2.8Contingencies and their justification2.9Maturity levels of an estimate2.10Practice: estimate the cost of a given scope
3.1Time value of money and discount rate3.2Present value of the decommissioning liability3.3Internal and external funds3.4Periodic contributions and their calculation3.5Fund investment policy and returns3.6Fund sufficiency and stress tests3.7Alternative financial guarantees3.8Accounting recognition of the provision3.9Accounting standards applicable to the liability3.10Practice: build a fund model
4.1Main sources of cost deviation4.2Sensitivity analysis of key variables4.3Probabilistic simulation of total cost4.4Regulatory risk and changes in criteria4.5Market and interest rate risk4.6Waste management capacity risk4.7Delay risk and its cost4.8Risk transfer through contract4.9Management reserves versus contingencies4.10Practice: probabilistic analysis of a budget
5.1Contract types and risk allocation5.2Fixed-price contracts versus cost-reimbursable contracts5.3Incentives and penalties5.4Cost control during execution5.5Earned value as a monitoring tool5.6Managing scope changes5.7Fund auditing and accountability5.8Reporting to regulators and shareholders5.9Public transparency of costs5.10Practice: design the financial control of a project
6.1Choice of facility and strategy6.2Definition of the decommissioning scope6.3Cost estimation by breakdown structure6.4Financial model of the fund6.5Risk and sensitivity analysis6.6Proposed contracting strategy6.7Control system and indicators6.8Information and transparency plan6.9Economic report6.10Defence of the project
How you'll learn
100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, making it possible to combine with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is CERREX-D2 (IAEA), advanced Excel, @RISK (Palisade), Primavera P6, Python (NumPy, pandas), in free, academic or evaluation versions. The exercises are based on real cost-estimation procedures using the ISDC structure, fund cash-flow models and Monte Carlo simulation of cost risks. Assessment is continuous per module plus the final integrative project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Describe the phases and cost structure of nuclear decommissioning.
Estimate costs using the ISDC structure and parametric methods.
Build financial models of fund provisioning and fund returns.
Quantify cost risk and uncertainty through simulation.
Analyse the accounting treatment of decommissioning provisions.
Where this takes you
Requirements
- No prior degree required.
- Internet connection and a computer capable of running the programme's software.
- Sufficient Spanish to follow technical regulatory reading.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme comprises 300 hours in total, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.
You will work with CERREX-D2 (IAEA), advanced Excel, @RISK (Palisade), Primavera P6, Python (NumPy, pandas). Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
A SEIUM Institute diploma upon passing continuous assessment and the integrative project. It is in-house training, not an official Ministry qualification.
Yes. Modules passed in a course or postgraduate diploma in the same area can be credited towards the advanced programme. Check the recognition policy when you enrol.
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