ModelRisk by Vose Software

PRISM by ARES

The PRISM Management suite can be used for contract administration, procurement and capital cost estimating, and to manage engineering, materials and risk. Individual products within the suite include PRISM Project Estimator and PRISM Project Manager, which collectively help clients manage data related to capital improvement projects; PRISM Executive, which provides a dashboard highlighting project cost and construction schedule performance, and PRISM Risk Manager, which is used for identifying and managing technical, construction schedule and cost risks.

@RISK by Palisade

Palisade's @RISK software uses Microsoft Excel to provide its users with risk analysis. @RISK enables its users to better judge which risks to take and which to avoid by showing all possible outcomes in a Microsoft Excel worksheet and informing the users how likely each outcome is to occur, said the vendor.

PrecisionTree by Palisade

PrecisionTree improves decision analysis through the use of influence diagrams and decision trees, which allow users to visually map out multi-layered decisions in sequential order. When combined with @RISK, PrecisionTree's decision analysis is enhanced with @RISK's ability to represent continuous ranges of outcomes for chance events and payoffs, the vendor said.

TopRank by Palisade

TopRank has an automated "what if" analysis that works with Microsoft Excel to allow users to define output cells; TopRank can then automatically find and vary all the input cells that could affect your entered output, said the vendor. TopRank improves the accuracy of @RISK analysis software by narrowing down the focus of large models before running @RISK. When run with PrecisionTree, meanwhile, TopRank can identify the most critical factors in large and complex tree models, the vendor said.

Evolver by Palisade

Used for genetic algorithm-based optimization, Evolver specializes in finding global solutions for nonlinear, complex problems in a variety of industries including airlines, manufacturing, finance and retail, the vendor said. Evolver is offered in two different editions, which can stand alone or work as part of the DecisionTools Suite -- Evolver Professional allows up to 250 adjustable variables per model, while Evolver Industrial allows unlimited variables, the vendor said.

NeuralTools by Palisade

Used for predictive analysis, NeuralTools has the ability to learn patterns in a company's known data and use them to make predictions from new and incomplete data, the vendor said. Additionally, NeuralTools automatically updates predictions if input data changes. This risk analysis software tool can be combined with Evolver to predict optimal solutions; users set Evolver's target goal as the live predictive output for NeuralTools, and the cells for Evolver will adjust as the new inputs for NeuralTools, the vendor said.

StatTools by Palisade

StatTools uses Microsoft Excel to perform time-series forecasting and statistical analysis. StatTools covers common statistical analyses and also allows users to build own custom statistical procedures for inclusion on the StatTools menu, said the vendor. When combined with @RISK analysis software, users can assess confidence intervals on stimulation results and simulate possible outcomes of time-series forecast results with more precision than they would otherwise receive using the time-series analysis by itself, the vendor said.

@Risk for Project by Planning and Management Services

PMSI's @Risk for Project is a risk-analysis software tool that works with Myriad or on its own. The application allows users to run Monte Carlo simulation on project schedules, estimates and other resources that automatically upload from Myriad. This helps construction professionals assess the probability of completing projects on-time and on-budget. (The Monte Carlo method of simulation combines algorithms with repeated random samplings to compute results.)

Asta Powerproject by Asta Development

Asta Powerproject is a construction project management tool that, according to Asta Development, is used by 45 of the United Kingdom's top 50 contractors.

Users of Asta Powerproject can create hierarchical structures for projects and sub-projects based on internal workflows; they can link tasks across projects to identify relationships, the vendor said. Reports, meanwhile, can be tailored to individual recipients, from high-level reports for senior management to task lists for subcontractors.