A novel method for simulating radiation dose reduction that enables previews of low-dose x-ray projection images, low-dose computed tomography images and/or cone-beam CT images. Given an existing projection or set of projections of the patient acquired at a nominal dose, the method provides a means to produce highly accurate preview images that accurately reflect the image quality associated with reduced radiation dose. The low-dose preview image accounts for characteristics of the imaging system, including blur, variations in detector gain and electronic noise, and does so in a manner that yields accurate depiction of the magnitude and correlation of image noise in the preview images. A calibration step may be included to establish the system-specific relationship between the mean and variance in detector signal, and incorporate an accurate model for system blur such that correlations in the resulting LDP images are accurate.