On the paths and ideologies to alleviate dependence on carbon derivative fuels in light of climate change, improve energy security in the uncertain world of today coupled with reliability of energy supply, policy makers face some arduous choices and decisions. Prolonging the existing life of certain nuclear power plants helps alleviate some of the concern on a stable, reliable and dependable energy source in the near future while avoiding the hassles of new constructions involving studies, feasibility and assessment tests, etc. Nuclear power generators have a host of issues to consider when undertaking license renewals ranging from technical through regulatory to economics. This paper delves on the decision making process that all inherent parties- plant engineers, managers and operators would face when working together to ensure, when feasible, extension of the existing life of the power generating plant. Understanding the flow of ideas requires a thorough comprehension of the factors that are central to the process. Considering the composition of the atomic power plant in the form of a group cluster simplifies understanding the logical reasoning behind various issues that pertain to the individual constituent components and the group as a whole. Regulatory overview, with frequent checks and proper documentation of the decisions shall help in furthering the learning curve towards a better decision in the future. Logical reasoning aside, an informed decision would involve a plethora of influential factors including operating and maintenance history, technical compatibility, interference patterns, to name a few.