The first practitioner-focused book to integrate probabilistic risk analysis, Monte Carlo simulation, and the practical use of AI language models into a single coherent framework — written for the professionals who actually build and maintain project risk models.
Project risk management has a problem that no framework has solved: the gap between what the standards say and what professionals actually do when uncertainty is real, data is imperfect, and decisions cannot wait.
This book closes that gap. It is written for project managers, risk analysts, cost estimators, and PMO leaders who work with uncertainty every day. Every chapter moves from concept to application, from theory to working model, from analytical output to stakeholder and boardroom-ready communication.
At its core, the book argues that probabilistic thinking is not a specialist skill. It is a professional discipline that every project practitioner can and must develop — and that AI, used correctly, makes that discipline more accessible, more rigorous, and more useful than ever before.
Drawing on over 25 years of consulting and training experience across energy, construction, utilities, and technology sectors, the author presents a framework in which best practice processes, Monte Carlo simulation, decision analysis, and AI language models are not separate tools but parts of a single integrated system for managing uncertainty in projects.
Every project carries uncertainty. Costs overrun, schedules slip, and revenues disappoint — not because project managers lack skill, but because most risk analyses rely on single-point estimates that conceal the true range of possible outcomes.
This book provides a structured framework for project risk management, combines it with rigorous quantitative risk analysis, and shows how artificial intelligence can accelerate and improve every stage of the process. It is written for practitioners who build and govern models.
Each chapter ends with a summary and key takeaways. No prior quantitative experience is required.
Manuel Carmona gives a comprehensive and practical tour of project risk analysis, starting with the basics and ending at the frontiers of AI.
A clear and practical guide to project risk analysis from a true thought leader in the field — bringing together Monte Carlo simulation, decision analysis, and AI in a way that's both accessible and immediately useful.
While the English edition is in preparation with Taylor & Francis, the Spanish edition — Inteligencia Artificial y Análisis de Riesgos en Proyectos — is already published and available to purchase. It covers the same rigorous framework of probabilistic risk analysis and AI integration, written for Spanish-speaking project and risk management professionals.
Published by Marcombo — one of Spain's leading technical and scientific publishers — the book has been adopted by universities and professional training programmes across Spain and Latin America.
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