Blog - Resources and Info about Lumivero

How AI is redefining capital projects

Learn how AI can improve capital project schedules, resource management, and risk analysis. Discover implementation strategies from an industry expert.

AI and risk management in infrastructure and civil engineering

See how AI and risk management in infrastructure and civil engineering combine to build a defensible risk model in this example—and why a human analyst...

AI and risk management in energy & utilities: How @RISK and AI are changing the game

Learn why the biggest capital decisions in energy now demand probability, not point estimates—and how AI in risk management enhances the workflow.

AI meets probabilistic modeling: How to build and audit Monte Carlo simulations with confidence

AI tools can now scaffold a Monte Carlo simulation model faster than any analyst working alone—but understanding exactly where AI helps, where it fails, and...

Risk management methods and techniques: A risk manager’s guide to responding to and analyzing risk

A practical guide to risk management methods and techniques — the four response strategies, plus the qualitative and quantitative analysis that make them work.

AI prompt engineering for risk managers: A practical field guide with @RISK Agent

Learn how to write structured, defensible AI prompts that work with @RISK Agent to produce accurate, auditable results across 5 stages of risk analysis.

Build with confidence: Data-driven risk management for construction and utilities

Explore how construction and utilities organizations can improve project outcomes using probabilistic risk analysis, Monte Carlo simulation, and portfolio intelligence to move beyond deterministic planning...

Monte Carlo simulation in the age of AI: What changes, what doesn’t, and what gets better

AI doesn't replace Monte Carlo simulation—it removes the friction. Learn what changes, what doesn't, and what's now possible for risk professionals.

What is Monte Carlo simulation: Steps, benefits, and use cases

Learn the basics of Monte Carlo simulation—how it works, why it's used, and real-world applications in risk analysis, finance, project management and more.

Introducing @RISK Agent: The intelligence layer behind better decisions

@RISK Agent embeds AI directly into your Excel workflow—combining AI speed with Monte Carlo rigor for insights that are accurate, auditable, and decision-ready.

Protecting fleet commitments from IBR to delivery

Learn how @RISK, Predict!, and SharpCloud work together to give shipbuilding program leaders the connected visibility they need to protect fleet commitments at scale.

How to use AI with Monte Carlo simulation: Practical guide for risk teams

Learn how to use AI and LLMs with Monte Carlo simulation in @RISK—from building smarter risk registers to writing better prompts. Practical guide with real...

Quantifying uncertainty in AI infrastructure projects with @RISK

See how @RISK and Monte Carlo simulation help you quantify risk and perform cost estimation in AI infrastructure projects to make data-driven investment decisions.

5 steps to better risk planning in aerospace projects

Learn how aerospace and defense teams can confidently plan and mitigate risk, along with practical steps to manage operational risk, maintain compliance, and support better...

Enterprise Risk Management (ERM): A practical 5-step guide to implement

Enterprise Risk Management (ERM): A practical 5-step implementation guide

Predict the unpredictable: March Madness predictions with @RISK

See how Monte Carlo simulation improves March Madness bracket predictions. Analyze favorites, upsets, and outcome probabilities using probabilistic modeling.

Best CAQDAS software for qualitative research

Compare the best CAQDAS software: NVivo, ATLAS.ti, MAXQDA, Dedoose & more. See key features, pros/cons, and how to choose.

Transforming risk registers from static to dynamic

Static, Excel-based risk registers can’t keep up with modern uncertainty. Learn how @RISK, Predict!, and SharpCloud turn risk registers into dynamic decision engines.

5 lessons learned in defense risk management

Defense projects succeed or fail based on how well risk is understood, aligned, and managed over time. These five lessons outline how effective defense risk...

5 Steps to building a winning Super Bowl prediction model

Learn how to build a Super Bowl prediction model with @RISK to make data-driven decisions. Discover key steps, reduce bias, and stay ahead of the...

From risk registers to intelligent systems: How AI is redefining project risk management

Discover how AI is transforming project risk management—redefining how teams capture knowledge, model uncertainty, and make faster, clearer decisions.

Risk analysis: An essential guide for managing uncertainty

Learn what risk analysis is, why it matters for project managers and business leaders, and explore different categories and use cases for risk analysis.

Strengthening nuclear megaproject delivery with probabilistic risk analysis

Nuclear power plant construction is growing. Learn how probabilistic risk analysis can lead to better cost and schedule estimation for these complex projects.

Fundamentals of risk modeling: Monte Carlo and beyond

Curious about the building blocks of better risk modeling? See how Predict! and @RISK make centralized monitoring and analysis possible.

Behind the breakthroughs: Optimizing underground coal mine safety

Preventing roof collapses in coal mines starts with predicting them. Learn how a team of researchers used @RISK to understand what contributes to this risk.

Predictive power - Using @RISK + Predict! in high-stakes modeling

Discover how combining @RISK and Predict! empowers energy and utilities professionals to model risk, leverage AI, and make smarter high‑stakes decisions.

Using Monte Carlo Simulation in Excel to Understand Possible Outcomes

Learn how Lumivero software can help you use Monte Carlo simulation in Excel to estimate risks, forecast outcomes, and improve decision making.

Deductive reasoning in research: Definition, uses, & examples

Learn what deductive reasoning in research is, how it differs from inductive reasoning, and see real-life examples, methods, and applications in studies.

Understanding inductive reasoning and analysis in research

Discover what inductive reasoning in research is, explore examples, types, process, and how it differs from deductive and abductive reasoning.

How to present statistical results: A researcher’s guide

Learn practical strategies for presenting statistical results at academic conferences.

How AI tools for academic research writing support synthesis and analysis

Discover how researchers are using NVivo and Citavi's integrated AI features to write more effectively, ethically, and efficiently—without sacrificing academic rigor.

Behind the breakthroughs: Using XLSTAT to understand consumer acceptance of biofortified foods

Discover how researchers used XLSTAT to analyze sensory data and assess consumer acceptance of a nutrient-rich Sudanese flatbread made with biofortified sorghum.

Why bad visuals kill good data (and how to fix them)

Learn why clear, accurate data visualization is essential for decision-making—and how to avoid common charting mistakes that can mislead or confuse.

How risk attitudes shape business decisions

Learn how risk attitudes—your organization's mindset toward uncertainty—can impact decision quality, opportunity, and outcomes.

Making data-driven decisions in defense with Predict! and @RISK

Discover how defense organizations use Lumivero’s Predict! and @RISK software for risk management, project delivery, and contingency planning.

Mastering capital project cost risk with smarter models in @RISK

Large-scale projects are prone to large-scale cost overruns. Learn how @RISK enables smarter cost risk modeling for major capital projects

What-if analysis: Definition, scenarios and benefits

Have you ever been faced with a large, complex risk model and been tasked with determining what the most important factors are? What if you...

From guesswork to game plan: Your guide to capital project decision-making

Large-scale capital projects have always been high-risk—but today, with tight margins, complex governance, and volatile markets, there’s reduced margin for error. The pressure for project...

Go beyond the model: Unlock enterprise-wide risk governance with @RISK + Predict!

Scale your risk strategy—without changing the way you analyze risk. The new @RISK and Predict! workflow extends your modeling expertise across the enterprise. Keep simulating...

Best practices for proactive risk management in Agile projects

Every project carries risk — but how you manage it can mean the difference between momentum and mayhem. As organizations face mounting pressure to deliver...

Translating risk modeling into business value

Projects slip, budgets break, and opportunities disappear— not due to a lack of risk modeling, but because critical insights fail to reach the right decision-makers....

Mastering credit risk modeling for financial and insurance forecasting

Mastering credit risk modeling for financial and insurance forecasting When evaluating loan applicants, credit officers, insurance underwriters and financial professionals have the complicated task of...

Solving finance’s toughest problems with tailored, data-driven models

Every finance leader faces a familiar set of questions: How do we manage volatility? How can we forecast with confidence? Are we making decisions based...

An introduction to qualitative risk analysis: What it is, why it’s used, and how it works

Effective risk management isn’t just a safeguard—it’s a strategic advantage. Today’s organizations face increasingly complex challenges, making it essential to assess potential threats with precision...

Behind the breakthroughs: How @RISK software powers smarter decisions

Risk analysis software may seem like it’s mostly applicable for large financial management firms or for infrastructure projects. However, at Lumivero, we’ve seen customers apply...

Risk in project management: Understanding the impact and strategies for success

Did you know that almost 80% of projects go over budget or experience timeline delays, according to Quixy? Project management comes with countless variables that...

Risk management in finance: Balancing risks and opportunity for optimal growth

While 51% of organizations intend to increase organizational resilience through better integration or business strategy and risk, 44% of those failures are tied directly to...

Advanced optimization for risk managers with Evolver and RISKOptimizer

Risk management professionals are always looking for ways to optimize the risks in their projects and processes – that is, ways to minimize the probability...

Upgrading finance modeling: A new playbook for managing financial risk

In business, uncertainty is the only constant. Yet despite its critical impact, financial strategies are still held back by outdated tools—namely, deterministic models in Microsoft...

Predict! + @RISK: A powerful end-to-end risk management solution

Risk management professionals know Microsoft Excel well — it’s versatile and embedded in daily operations. That’s why @RISK, our advanced risk analysis software, integrates directly...

Top analytical models for business decision-making

Big Book of Models: The ultimate guide to analytical models for smarter business decisions Data-driven decision-making is at the heart of modern business success. Whether...

Breakthroughs in quantitative and statistical analysis: Real tactics for real problems

Our Breakthroughs 2025 webinar series is now available on-demand, and the quantitative track delivers immediate, tactical value for professionals who need to make better decisions—fast....

Unlock innovation with Breakthroughs

Did you know nearly 70% of enterprise data goes unused? That’s a staggering amount of untapped potential – insights and opportunities that could drive innovation,...

The future of AI in risk management

AI risk, rewards, and reality: Insights from our expert panel Generative artificial intelligence (AI) tools have been taking industries (and business functions) by storm—and risk...

The Essential Guide to Business Decision-Making

Solve top business challenges with proven statistical and risk models Certain industry challenges are timeless — predicting trends, improving efficiency, gathering relevant information, and making...

Fall in love with your data this February

February is the month that we celebrate love in all its forms: romantic love, platonic love, family love – and loving what we do every...

2024 Lumivero Virtual Conference Highlights

The 2024 Lumivero Virtual Conference on Sept. 25-26 brought together a diverse global community of data professionals, researchers, academics, and students for sessions featuring data...

Introduction to Lean Six Sigma

There are many different types of waste in manufacturing – waste that can cost the economy many billions of dollars per year. For example, a...

Using @RISK to Support Lean Six Sigma for Project Success

In our previous article, Introduction to Lean Six Sigma, we discussed the fundamentals of Lean Six Sigma, exploring how it combines the principles of lean...

Monte Carlo Simulation in Manufacturing

With part shortages causing issues at more than 50% of all manufacturers, it’s no surprise that they are looking for better ways to predict where...

Unlock Productivity with Faster, Smarter Workflows in DecisionTools Suite 8.7

We are excited to announce the latest version of DecisionTools Suite – designed with an unparalleled performance boost (4x faster calculations!) and a new, intuitive...

Risk Management in the Era of AI: Transitioning Risk Analysis to a Business Accelerator

Risk management, explains Mariama Zhouri, is one of the oldest jobs there is. From parents investing in cabinet locks to protect toddlers to schools deciding...

Revolutionizing Financial Forecasting and Risk Analysis with Automated Risk Software

Discover the @RISK advantage In the dynamic field of financial services where things can change in an instant, it’s critical that financial analysts stay on...

Next Steps for Data-Driven Decision Analysis by Industry

Learn how using the Monte Carlo method in @RISK can improve your decision analysis and solve industry challenges in consumer goods, manufacturing, finance, insurance, and...

10 Project Manager Issues Addressed by Using Monte Carlo Simulation

Anticipating Project Manager Issues with Monte Carlo Simulation to Meet Deadlines and Plan Contingencies Project management is a multifaceted endeavor that involves careful planning, resource...

@RISK New Version: Enhanced Communication and Modeling for Gantt Charts, Time Series, and ScheduleRiskAnalysis

Effortlessly improve your decision making through risk modeling and analysis with @RISK software – a powerful add-in tool for Microsoft Excel. By using the Monte...

Optimizing Reliability Engineering in Manufacturing with Monte Carlo Simulation

As 2023 progresses, manufacturing companies continue to focus on supply chain management issues. In an April 2023 survey conducted by CNBC, only 36% of supply...

Optimizing Manufacturing Operations with Monte Carlo Simulation for Supply Chain Risk Management

The increased costs, lack of reliable transportation, and scarcity of supplies all clearly tell the story that’s reigned on news feeds since 2020; The global...

Manufacturing Supply Chain Management: Optimizing Production and Supplier Specifications Using Monte Carlo Simulation

How to Optimize Production and Inventory and Improve Tolerance Stacking Through Risk Analysis and Forecasting Supply chain management issues continue to be top of mind...

How to optimize supply chains with Monte Carlo simulation

Updated: April 2, 2026Keeping supply chains flowing amid global threats with risk analysis for optimizing manufacturing For manufacturers, COVID-19 exposed significant vulnerabilities in today’s complex...

The Analytics Pyramid: Why Analytics are Critical for Defensible, Objective Decision-Making?

Organizations of all types use analytics to approach decision-making more objectively, accurately, and confidently. These techniques help decision-makers at all levels to be better-informed and...

Construction and Engineering Risk Analysis in an Uncertain World

The long-term weather forecast can be summed up in one word: extreme. According to the Environmental Protection Agency (EPA), years of research into the impact...

Improving Financial Crisis Mitigation Strategies with Risk Analysis

The recent Silicon Valley Bank and Signature Bank crisis sparked significant concern and sowed distrust in the financial system among both the banks’ customers and...

Improving Financial Crisis Mitigation Strategies with Risk Analysis

In Light of the First Republic Bank, Silicon Valley Bank, and Signature Bank Crises The recent First Republic Bank, Silicon Valley Bank, and Signature Bank...

Hedge Against Volatile Oil Prices Using Monte Carlo Simulation

Updated: Sept. 1, 2023 The escalation of Russian’s invasion of Ukraine and the ongoing response to the COVID-19 pandemic contributed to crude oil price volatility...

Cost Estimating: Triangular vs PERT

Continuing with this series of articles introducing cost estimating with @RISK, we will compare the use of the most popular distributions of this technique: the...

Announcing ScheduleRiskAnalysis for Project Schedules in the DecisionTools Suite!

Manage uncertainty in project schedules like never before with Monte Carlo simulation. Perform risk analysis on Primavera P6 or Microsoft Project models in the @RISK...

Hedge Against Volatile Exchange Rates with Monte Carlo Simulation

Originally Published: Nov. 1, 2022 Updated: Sept. 1, 2023 At the time of this article's publication in November 2022, the U.S. dollar was at its...

Basic Cost Engineering with @RISK

This article offers a simple and concise explanation of the Monte Carlo simulation, a technique that combines statistical concepts (random sampling) with the ability of...

Creating Litigation Decision Tree Models to Improve Legal Case Outcomes with @RISK and PrecisionTree, Part ll

To lay the groundwork for swift settlements, many legal firms use PrecisionTree software to map out all possible routes a litigation path can take by...

Risk Represents a Range of Possible Outcomes for Business Continuity and Disaster Response

Business continuity and emergency response managers know that recovering from a crisis requires proactive planning – regardless of whether you can see trouble approaching. Lessons...

Dell Technologies Optimized Global Supply Chain Using Lumivero’s Predictive Analytics Tools

Long supply chains for technology companies in the United States combined with the need for timely delivery of products to customers has brought challenges to...

Using @RISK and Principal Component Analysis (PCA) for Valuing a Portfolio of Natural Gas Futures

The use of custom Excel programming and @RISK APIs allows the automated analysis of historical data and construction of sophisticated risk models. Here, we present an application...

Better notes, better grades

7 methods for taking notes in class Do you dream of doing better on tests and getting better grades? According to a recent study by...

Predictive Analytics Used to Determine Hospital Bed Capacity

Hospital bed availability changes daily, especially during COVID-19, as patients are admitted and discharged. @RISK gives staff a real-time look at data as it evolves,...

Contingency Calculation in Cost Risk Analysis

When performing a cost risk analysis study, one of the key results is the amount of extra monetary resources that is to be added to...

What are Real Options? - unpublished

Real options are the flexibilities that are inherent in general business or other decision situations. In general, a real option is present in any decision...

A Citation Style Glossary

Citation Terms Explained in Plain English As a university student, you’re expected to adhere to citation style guidelines for your papers – but that can...

South African firm uses risk analysis software for ‘unbankable’ projects

A South African infrastructure development company has used @RISK risk analysis software to ensure it attracts funding for projects to deliver basic community services that...

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