Many utilities around the world are pursuing long-term operation (LTO) of their nuclear power plants beyond the initial licensing period. In the United States, the majority of the renewed licenses have allowed the period of operation to be for up to 60 years and a few renewed licenses of up to 80 years of operation, with comparable efforts worldwide. Aging Management Programs (AMPs) are a key element in long-term operation of nuclear power plant and require effective implementation to ensure long-term safety and reliability of vital systems, structures, and components (SSCs). Typically, aging management implementation strategies have been focused on near-term obligations, and these may not be optimal for accomplishing longer-term reliability and sustainability objectives. Therefore, to optimally manage the potential impacts of aging, risk insights can be leveraged using a consistent and sustainable Framework that would focus on high-value actions while reinvesting knowledge and resources. This would allow the implementation of AMPs to enhance and optimize inspection, repair, and mitigation activities.