Both AI (Artificial Intelligence) and ML (Machine Learning) have a wide range of applications in business. It is well known that the most important capabilities attributed to AI are based on handling large amounts of data quickly and efficiently; analysing that data, looking for patterns, learning from these patterns and producing an end result. It is highly likely that in the near future, AI will become an emerging trend in the field of project management. This is because of the ability that it has to not only monitor set patterns but also to forecast both project scenarios and also outcomes more quickly than a human being.
AI is no longer found just in the fields of IT and cutting-edge technology applications. It has made its way into other settings where it can be found augmenting or replacing some of the more repetitive tasks that are usually undertaken by humans, including project managers. AI is being used for administrative tasks such as maintaining logs and registers and any automated preparation for meetings. This includes, for instance, emailing invites, booking rooms and drafting agendas. As time goes on, it is likely that AI will improve the way in which it handles tasks associated with project management.
So what does this mean for project management (PM) as we know it, and in particular, project managers? What will they need to know if they are to stay one step ahead of this increasingly important emerging technology with its potential to make a significant impact on the future of project management?
AI-powered tools will take over project managers’ administrative tasks
When it comes to some of those more monotonous but essential tasks that are associated with project management AI really does come into its own. It can help with meeting planning, reminders, daily updates and other administrative tasks. Having the right AI solutions in place will mean that not only the project manager but also the members of the project team will be able to concentrate their efforts on the more complex, higher-level activities and planning that are required in any project.
It is important for a project manager to take a look at the tasks that they could delegate to AI and then look for the type of solution that will work best for them and their project team.
AI systems are able to help keep projects on track and within budget
One thing that project managers learn, through both formal PM training and real-world experience, is to estimate how much a project is likely to cost and how long it will take. When AI is used to help with this task it is possible to predict these things to a much more accurate number using AI-powered data analysis that is able to take data from previous projects in order to calculate data for the current project.
Providing insights
AI tools have the capability to analyse data from both your current project and also any previous projects that are relevant. It is possible that through the use of AI-powered data analysis, a project manager will be able to more accurately estimate costs and set achievable deadlines. Using AI and data-driven insights, a project manager can continue to guide any project through the unforeseen obstacles and difficult choices that will inevitably arise and that have the potential to derail the project.
Better risk management
In the not-too-distant future, it is expected that AI will be able to convert managers’ mind maps into some form of semantic network and then derive any tasks and the relationship that they might have with it. For example, AI-based project scheduling has the capacity to include lessons that it has learnt from other projects that have been completed previously and also suggest several possible schedules as a result of the dependencies and context.
In addition, using things like historical team performance and the progress of previous projects, it is possible to adapt project plans and re-baseline them in almost real time. If it uses real-time project data analysis an AI system has the potential to alert a project manager to possible opportunities and risks.
Enhanced people management
When it comes to data-driven and repetitive tasks, AI excels. Using AI for the automation of the more routine data-driven tasks will free up members of the project team to concentrate on the project vision, people management, network development and team building. AI has the capability to predict things like deviations from a project’s schedule and even solve them. It cannot solve conflicts that are caused as a result of the deviation or obtain the required consensus in order to put the project back on track. However, it can potentially free up time for people to focus more on the people involved in the project.
Conclusion
It is essential for project managers to stay up to date when it comes to the latest in project management AI applications. They need to be aware of all the latest applications and their capabilities in order to best understand what is available and, more importantly, how it is possible for these latest technologies to assist them.
It is also important for companies to invest in the other very necessary complementary skills that will help them to best use AI. These are the “human centred” skills, emotional intelligence, leadership, communication and, of course, creative problem-solving. This is because no matter how good AI technology becomes, these “human-centred” skills will always be needed.
No comments yet