Technological advancements in the past decade have revolutionized our lives in ways unimaginable. A new revolution with far more far-reaching effects is happening right now. Experts believe artificial intelligence (AI) will transform every aspect of business and management including production, manufacturing, and delivery processes. So how AI will transform project management?
Artificial Intelligence has found applications in almost all industries, including manufacturing, utilities, transportation, and financial services. AI also has the power to transform project management. Although AI software has been used for project management since 19872, it is only now that its use is truly taking off.
Self-driven project management is no longer just a thing of science fiction, thanks to advancements in data integration and process automation. But before we can achieve this technological feat, as we have already witnessed with the Internet, big data, and all the other recent technical revolutions, there are challenges to be solved.
What is AI?
The simulation of human intelligence processes by machines, especially with computer systems is referred to as artificial intelligence. Natural language processing, expert systems and speech recognition, and machine vision are a few specific uses of AI.
Artificial intelligence (AI) systems absorb a large quantity of training data. It can examine data for patterns and correlations utilizing these patterns for forecasting future states. In this way, an image recognition program can learn to recognize and characterize items in photographs by going through millions of examples. Generative AI algorithms are being built at a rapid pace and can produce graphics, realistic text, music, and other media.
Evolution of AI in project management
You might ask what is the future of project management? The answer is more use of technology. The impact of technology on project management will be significant, and AI will undoubtedly alter the way that projects are managed and completed in this regard. We firmly believe that top AI tools for project management will go from basic task automation to anticipatory project analytics, recommendations, and interventions. AI project management is anticipated to grow in importance. Being human is something AI cannot accomplish, though.
Artificial Intelligence has been referred to by many names over the years, including natural language processing, cognitive computing, and machine learning. The notion that machines might eventually be able to learn on their own instead of needing to be spoon-fed instructions or only following preprogrammed rules is what unites them all.
AI and “automation” are terms that are frequently used interchangeably these days. But there’s a big difference: artificial intelligence (AI) is meant to mimic intelligent, even human, thought, whereas automation is a controlled process that adheres to pre-programmed logic and rules. Up until now, a lot of attention has been paid to automating already-performed tasks, which calls for some level of standardization. But we see this as just the beginning of AI’s development in project management. The initial stage is followed by autonomous project management, machine-learning-based project management, chatbot project assistants, and more.
AI integration and automation
Streamlining and automating project tasks with process automation and workflow integration is a major focus when it comes to AI integration and automation. For example, AI allows updates to the project budget stored in a database without requiring any human intervention.
Enabling auto-scheduling through programmed logic and rules would automatically track the status and progress of tasks completed by project team members. You can manage the settings to notify a project manager only in the event of an exception-based scenario which would also strengthen project planning. It may be necessary to enforce interaction between project planning and incident management tools in order to identify potential delays that may arise from a high number of defects in specific workstreams.
Here are some examples of current real-world use cases for project management automation:
- Using online templates and workflows, such as those in Slack or MS SharePoint, to reduce time and improve data quality
- Sending notifications when scheduling and potential budgeting issues are identified for a project
What’s the future of project management? Over the next few years, there will be more integration and automation in project management, with a primary focus on improving processes. Therefore, workflow management vendors, start-ups, and current project management software providers will all offer improved tools for simplifying standardized project management.
By doing this, standard project management procedures will be of higher quality, and labor costs and effort associated with basic PMO tasks will be decreased. As a result, project managers will save money and have more time to concentrate on intricate tasks and oversee external stakeholders. This is referred to as automated project management.
The second stage of AI’s development in project management is thought to be represented by chatbots that act as project assistants. In human-computer interaction, bots will play a part, mostly through text or speech recognition.
Menial tasks like scheduling meetings, planning vs. progress checks, and reminding project team members of upcoming activities can all be handled by chatbots. Even preliminary data insights can be included by chatbots. Project assistants could, for instance, respond to inquiries such as “What is my team working on today?” or forward these queries to team members.
The following are some examples of current real-world use cases:
- ai is an AI bot for Slack that analyzes conversations inside Slack and recognizes tasks and assignments based on this
- ai allows the project manager to identify top contributors based on measurables, tracks team members’ performance and sends reminders to them.
Project assistants will continue to take over basic project management tasks and relieve project teams of repetitive work that adds little value, much like the first phase of project task integration and automation.
In this sense, we anticipate that project management will witness the close integration and plug-in of both current and emerging technologies related to human-computer interaction. Consequently, chatbots will gradually replace the traditional role of a project manager.
Machine learning-based project management
Machine learning project management is another trend to look after. Machine learning is incorporated into project management techniques in the third stage of AI in project management. Predictive analytics is made possible by machine learning, which also gives project managers guidance on how to set up and manage their projects within predetermined parameters and respond to risks and problems in order to maximize results by learning from past project experiences.
In the near future, artificial intelligence for project managers will do wonders. AI might turn project managers’ mind maps into a semantic network and use that to extract tasks and their connections. AI-based project scheduling, for example, could propose several potential schedules depending on the dependencies and context, and it could incorporate lessons learned from past projects. Additionally, based on past performance, project plans could be modified and re-baselined almost instantly.
There are presently very few instances of machine learning being successfully incorporated into project management, such as:
- Adapting scheduling views based on user preferences and permissions; Using social tagging to connect users based on comments they have posted and finding the most suitable team for a task
- A machine-learning-based project analytics tool that forecasts client satisfaction, expected write-off, and expected net promoter score (NPS)
Predictive project analytics is what we believe will disrupt project management the most over the next ten years. It will improve decision-making quality and provide project managers with more insight into what the future may hold for a project. Making trustworthy judgments about current circumstances and anticipated future events will also assist in connecting data to useful actions by allowing decision-makers to recognize possible risks and opportunities before they arise. The fourth stage of the development of AI-based project management could be ushered in by an AI that is capable of making decisions on its own. Still, this stage will cost a lot of money to develop machine learning and data analytics skills—which are the foundation for modeling highly
Autonomous project management
Autonomous project management would require little assistance from a human project manager, much like self-driving automobiles. An autonomous project management system will also need to thoroughly analyze and grasp the project environment and related stakeholders, in addition to the technical project management processes that have been the main focus of the preceding three phases. Therefore, these AI systems would need to be able to use algorithms for sentiment analysis to sift through customer communications and determine the level of commitment and satisfaction among stakeholders at any given moment.
How will AI transform project management?
So how AI will transform Project Management? Simply put, AI opens the door to intelligent tools and automated processes that will cut down on manual labor. Our experience suggests that it will necessitate a certain level of project management maturity, though. Furthermore, AI requires a large data set to learn what works and what doesn’t in order to provide deep insights into a project. Implementing an AI-based project management system successfully really comes down to having large historical data sets and current project information in a standardized form.
It’s also critical to assess the benefits AI can truly bring to your projects, your company culture, and your risk tolerance before implementing it in your current project management environment. Do you need a digital assistant to handle mundane tasks for you, or do you need something more complex that will challenge the project thoroughly? Lastly, you must carefully consider the cost of realizing these potential benefits. It is evident that there is tremendous potential for the implementation of AI-based project systems in large project organizations. Thus AI and project management will work hand in hand in the coming days.
Technical project management
All of the different tasks that go into managing and executing a project are included in technical project management. These, we think, are the main areas that the current generation of AI systems supports. By analyzing status and delivering data-driven insights and forecasts, intelligent project management assistants, bots, and machine learning algorithms assist project managers in their day-to-day work.
Strategic and business management
For example, in order to analyse, judge, or prepare business decisions (based on both rules and emotions), strategic and business management skills are needed. By setting up parameters, recognizing dependencies, or projecting business outcomes, AI can be helpful. AI can assist the project manager more effectively with the more complex the underlying models and the more precise the data streams that are available.
This domain encompasses diverse interpersonal proficiencies, including mentorship, delegation, and stakeholder motivation. The existing AI systems, for example, can help with candidate selection by providing a short list or ranking according to a predetermined set of criteria and patterns; however, they do not consider social and/or emotional dynamics. Furthermore, current AI systems do not take team management and leadership into account.
How AI Will Transform Project Management: Final Thoughts
In conclusion, we think AI will support project managers rather than take their place. Like any technology, artificial intelligence by itself cannot ensure success. So people won’t be using AI for project management solely. Or you won’t see any AI project manager that operates completely on its own any time soon. When used strategically, AI can, however, be a unique accelerator and game-changer for project managers, helping to raise the success rates of their work. To get a glimpse of what’s about to come, have a look at the top AI tools for project management present today.
The most successful project managers will probably be those who can look beyond what is possible for a “human” mind to imagine and provide answers to questions about how this technology can truly add value, improve project management, and spur business transformations. This will guarantee project management’s strategic worth.