AI is the secret to successful project management
Project managers are well aware of how small delays and time management can impact whether a project is on track for success or whether teams face unexpected setbacks that compromise productivity and morale.
They accept many of these inefficiencies and delays as normal for some reason. What if that wasn’t true?
There are many project management tools available, but those that incorporate Artificial Intelligence (AI), Machine Learning (ML) are proving to be very useful in helping project managers spot potential missed deadlines and even avoiding them altogether.
These types of predictive insights can be used to benefit every company, regardless of whether they are in the software development, construction, finance, or other industries.
Gartner estimates that AI will have generated $2.9 trillion of business value by 2021. This technology is something that project teams must embrace — and quickly.
Technologies that combine AI and ML enhance project managers’ abilities by predicting when tasks will be completed, notifying them when a schedule is likely to be missed, and automating low-value administrative tasks to improve productivity.
AI and ML are not a threat to the role of Project Manager. They can be used to enhance awareness and productivity in a way that is unique to them.
Current cracks in Project Management
Lack of awareness about any potential issues or bottlenecks is the biggest problem facing Project Managers today. Project Managers only have the information they have. It’s not unusual for team members to find a problem and not bring it to the attention either their colleagues or the Project Manager. This can lead to the problem becoming too complicated and costly to fix.
Even a small delay in completing a task can have a significant impact on the project’s progress if it is not addressed immediately. The sooner you identify the problem, the easier it will be to fix. Remember that Project Management is not a science. Teams can predict the time it will take, but this is often not true. It is essential to be flexible and early warning.
A key problem that Project Managers across industries are facing is focusing too much attention on low-value activities. Accenture’s study found that managers spend on average 54 percent of their time on administrative tasks related to project management.
These tasks can be taken out of the hands of Project Managers and passed on to new technologies, allowing them to concentrate on what is really important.
Are Project Manager roles at risk of being automated
AI and ML are still relatively new concepts in project management. Many teams are concerned about the potential impact on workplace dynamics. Many employees are worried about losing their jobs or being replaced by machines.
AI will not replace Project Managers’ jobs anytime soon. Project management is about human connection, leadership and strategic thinking outside the box — skills that only a human can offer. Technologies like AI/ML are designed to complement, not replace Project Managers.
They must work together with human intelligence as AI alone is not enough to guarantee success. However, AI and ML can be used to accelerate projects and keep teams on track to meet deadlines.
AI and ML-aided forecasting and planning
The true power of ML lies in its ability to find patterns and relationships among events and actions through processing huge amounts of data.