📘  Taylor & Francis · 2026 · English

AI AND
RISK ANALYSIS
IN PROJECTS

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.

🏛️
Publisher
Taylor & Francis · USA
📅
Publication
2026
🌍
Language
English
📖
Chapters
13 chapters
About the book

Written for the
practitioner who
builds the 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.

🏛️
Publisher
Taylor & Francis
Leading academic & professional publisher · USA
📅
Publication year
2026
Exact release date to be confirmed
📖
Structure
13 chapters · 3 parts
Foundations · Quantitative Methods · AI Integration
🛒
Where to buy
Amazon & Taylor & Francis website
Purchase links available on release
🎓
Aligned with
Best practice professional standards
No prior quantitative experience required
Who should read this
Project managers
Risk analysts
Cost estimators
PMO leaders
Planners & schedulers
CFOs & investors
Consultants
MBA students
Inside the book

13 chapters.
3 parts.
One framework.

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.

Table of Contents
Foreword  ·  Introduction  ·  Bibliography  ·  Index
Part I — Foundations
01
The environment of risk analysis in projects
Why uncertainty is structural, not exceptional — and what it costs organisations when treated as noise rather than information.
02
The key role of project managers — risk management and strategic leadership
Repositioning risk management as a decision-critical leadership discipline, not a compliance function delegated to a specialist.
03
The risk management environment in a project
Governance structures, stakeholder roles, and the conditions that determine whether risk analysis actually reaches the people making the key decisions.
04
Statistics for risk analysis: fundamentals for data-driven decision-making
The minimum statistical fluency every risk practitioner needs — distributions, percentiles, correlation, parametrization, sensitivity, variance, and the mechanics of cognitive bias.
Part II — Quantitative Methods
05
A framework for managing risks in projects
Description on how to implement an end-to-end risk management process — Plan, Identify, Analyse, Respond, Monitor — reframed as a structured decision-support system.
06
How to create a risk plan
The structure, content, and decisions that determine whether a risk plan can serve to steer project decisions or quietly disappears into a filing cabinet.
07
Risk identification — strategies for detecting and anticipating potential project problems
Systematic techniques for uncovering what experts can miss, misclassify, or consistently underweight — from structured interviews to assumption analysis.
08
The quantitative risk analysis process
From estimations of PxI risk register entries to model inputs: translating qualitative risk assessments into well-structured probabilistic estimations ready for simulation.
09
Economic evaluation of projects Monte Carlo — a case study
A complete worked example: building, running, and interpreting a probabilistic NPV model from first principles, with every modelling decision made explicit.
10
Decision optimisation with decision trees, EMV analysis, and Bowtie
Choosing rationally between uncertain futures using Expected Monetary Value, multi-branch decision trees, and the Bowtie analysis method for optimal risk response selection.
Part III — AI Integration
11
The arrival of artificial intelligence in risk management
What roles AI language models can play in a project risk workflow — their genuine capabilities, known failure modes, and the deployment and governance questions that must be taken into account.
12
AI-assisted Monte Carlo simulation — from deterministic model to probabilistic analysis
Step-by-step integration of AI into the quantitative modelling workflow: assumption review, distribution calibration, logic validation, and executive narrative generation.
13
AI inside the spreadsheet — Claude for Excel and connected QRA tools NEW
How AI-native spreadsheet agents and connected quantitative risk analysis tools reshape the modelling workflow and speed — from model construction to live assumption interrogation and debugging inside the workbook.
Critics' Reviews

Manuel Carmona gives a comprehensive and practical tour of project risk analysis, starting with the basics and ending at the frontiers of AI.

Erik Westwig
President, Polished Analytics — USA

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.

Denise Castellot
Director, Pinkerton Risk — USA
También disponible en español

The Spanish edition
is already published

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.

296
Pages
€26.50
Print
€19.95
eBook
Inteligencia Artificial y Análisis de Riesgos en Proyectos — Manuel Carmona
About the author
Manuel Carmona
PMI-RMP Authorised Instructor PMI AI Expert

Manuel
Carmona

Manuel Carmona is a specialist in quantitative risk analysis, decision modelling, and the integration of AI into project risk management. Over a career spanning more than 25 years, he has advised and trained organisations across energy, construction, utilities, financial services, and technology sectors in Europe, the Middle East, and Asia-Pacific.

He spent a significant part of his career as EMEA Consulting Manager at Palisade — the company behind the @RISK and Palisade risk analysis software suite — delivering risk modelling, training, and implementation projects for some of the world's largest engineering and energy organisations.

Through EdytrAIning, his independent practice, he trains professionals in quantitative risk methods and consults on risk model design, Monte Carlo implementation, and AI-integrated risk workflows. He holds an MBA from the University of Westminster, is a PMI-RMP® Authorised Instructor, and holds the AI Expert Certificate. He is fluent in English, Spanish, and French.

This book is the culmination of two decades of practical experience — an attempt to give project professionals the integrated framework that the literature has not yet provided.

25+ years in quantitative risk
PMI-RMP® Authorised Instructor
AI Expert Certificate
MBA · University of Westminster
Former Palisade EMEA Consulting Manager
Fluent: English · Spanish · French

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