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Often, probabilistic fracture mechanics (PFM) approaches have been adopted to quantify the failure probabilities of Nibase alloy components, especially due to primary water stress corrosion cracking (PWSCC), in a primary piping system of pressurized water reactors. In this paper, the key features of an advanced PFM code, PINEP-PWSCC (Probabilistic INtegrity Evaluation for nuclear Piping-PWSCC) for such purpose, are described. In developing the code, we adopted most recent research results and advanced models in calculation modules such as PWSCC crack initiation and growth models, a performance-based probability of detection (POD) model for Ni-base alloy welds, and so on. To verify the code, the failure probabilities for various Alloy 182 welds locations were evaluated and compared with field experience and other PFM codes. Finally, the effects of pre-existing crack, weld repair, and POD models on failure probability were evaluated to demonstrate the applicability of PINEP-PWSCC.