Instead of constructing new nuclear power plant, nuclear power has been shifted to expand the lifetime of nuclear power plant according to the condition of safety and reliability around the world. In order to achieve the goal of life extension, it is important for the nuclear power plants to focus on the life cycle management of critical equipment. LEA (Life Economic Analysis), the core work of life cycle management, is an analysis strategy to improve the usability of critical equipment and achieve the maximization of life value and long period of revenue through optimizing decision-making process of critical equipment. In this paper, a calculation method of the equipment failure rate based on the three-parameter Weibull distribution model is given. Ensuring the premise of reliability and safety, the economic analysis of the model is proposed to optimize the cost. Finally, based on the model of economic analysis, the paper takes an equipment of 60-year life cycle management as an example to verify the feasibility of the economic analysis model.
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