Long before statistical whiz Nate Silver predicted the outcome of the 2012 presidential election and "Moneyball" became a household word, structural engineers employed the Monte Carlo method of ...

A typical dilemma is a choice between two options. However, today’s innovators and CIOs face a different challenge of dealing with both probabilistic and deterministic code, not separately, but ...

The design and construction of capital projects can be extremely complex. Uncertainty and risk add to this complexity and, as a result, many projects experience significant cost overruns and schedule ...