5 Main Applications of Artificial Intelligence in Project Management

5 Main Applications of Artificial Intelligence in Project Management

How can project managers incorporate artificial intelligence in their workflow?

Most project managers find themselves in a tough spot when they reach a point in their project and realize maybe they skipped a step and start asking themselves questions.

Where are we? How can we get back on track again as soon as possible?

Well, such scenarios can be avoided through the use of reliable project management tools powered by AI.

Artificial intelligence in project management is the incorporation of computer-based systems to run a project with minimal human assistance.

Project managers must ensure that they have a systematic approach to performing all the tasks involved in project management.

The use of AI-empowered project management tools ensures the increased efficiency of all activities that go into making sure that a project is planned and implemented successfully.

In this article, we are going to highlight 5 main applications of artificial intelligence in project management.

1. Planning Processes

As a project manager you have been tasked with the responsibility to run a project from conception to actualization but are stuck on where to start.

Do you run into unexpected situations that hinder the perfect delivery of the project?

Most managers at times are prone to omitting important aspects that form the basis of a good project plan, which is vital to increasing your project’s accuracy and productivity. At times they might even plan the beginning of the project well but encounter challenges in the process. These challenges may include:

  • Poor resource allocation
  • Lack of risk analysis
  • Poor establishment of proper communication channels

All these challenges affect a project by interrupting the continuous workflow that is supposed to lead to successful completion.

Application of artificial intelligence in project management tools helps to eliminate most of the mentioned challenges. Project information fed on Artificial Intelligence software helps to display the time, cost, possible threats, and the expected outcome of the project..

The use of the Cognitive Computing System ensures that project managers can conduct efficient resource planning before even beginning the project. By doing so, under budgeting is eliminated and expected risks are well calculated. This eliminates the possibility of the project stalling or failing to reach successful completion altogether.

2. Project Documentation

Sometimes in the project implementation process, project managers may find that they do not have a good track of their steps.

Others may find it hard to retrieve all transactions incurred in buying products/services and this may bring conflicts between the project manager and the financiers of the project.

Using artificial intelligence in your documentation process has a myriad of advantages. The project manager can;

  • Document about each specific task
  • Budget and account for each spending
  • Highlight the scope and effectiveness of the project

The application of AI in the documentation process of project management ensures that all requirements are met. This is achieved by the use of the creation of a Task List on the project management software with AI capabilities.

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After completion of each task, the Artificial Intelligence software ticks it off the list and displays the next task to be undertaken.

Proper documentation aided by the use of AI tools is accurate and helps in acting as a reference point. It acts as a paper trail for going back to the whole journey. It also helps to monitor and control the various phases of the project.

Project managers who have adopted the use of virtual assistant tools are reaping the benefits of having tasks organized in chronological order.

These tasks are then ticked off after completion and the next tasks’ activities are displayed and sent to team members for proper actions to follow.

3. Risk Management

As a project manager sometimes you run into situations along the project line that threaten your project. You might find challenges that range from political, weather, or making poor decisions that are not data-driven.

You end up wishing you had someone to alert you. Give you a heads up that something is about to affect the completion of your project.

Well, the use of AI-powered tools in your project management workflows will offer the best solution to this.

The application of artificial intelligence in project management ensures that managers can see from the beginning of the project to the completion through virtual simulation.

Virtual simulation powered by artificial intelligence shows the project managers what to be on the lookout for and therefore helps in detecting possible risks.

Project managers feed the AI-powered tool different data to depict various scenarios and the tool analyzes that information to display the various expected outcomes.

The team manager is then able to at least have a clear picture of what they expect during and after the completion of the project.

A simulation model such as Monte Carlo, has assisted project managers to improve the assessment of possible risks and foresee expected opportunities through simulation.

4. Reporting Processes

As a project manager, the workflow must continue and decisions have to be made without hesitation.

But in the process of being too busy and certainly focused, you realize that you ought to have consulted with your client regarding a specific task, yet didn’t.

You wonder what your client would think if you did a certain task in a different way from what you have done.

Now, keeping your clients informed is a good thing!

It will play to your advantage as they might be resourceful in offering solutions to issues that arise as the project takes form.

AI-powered tools such as Chatbots, help in generating status reports of projects through the power of natural language processing (NLP) and deep learning.

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Regardless of the data or the format needed to display these reports, AI-driven tools will ensure the necessary information is well delivered and in a comprehensible format.

Your customers and other stakeholders require, and others might demand that you make regular updates and keep them in the loop.

The use of Chatbots in project management helps in sending message alerts that keep the client informed on your current status.

They simplify complex data in the software and send it in the form of simplified reports that inform your clients on the various aspects of the project.

5. Evaluating Project Performance

At times project managers find that they have left some goals and objectives unsolved.

Most of these underaccomplishements are due to the lack of proper workflow management, enabling subgoals to slip through the cracks.

For instance, a project manager who might be tasked with the duty of installing cameras in a building might do so but fail to create cloud storage to backup information.

This might lead to loss of information and the client may feel cheated and unsatisfied.

How can project managers avoid this then?

Before closing out a project, the project manager and their team need to ensure that all goals have been attained and achieved to proper satisfaction levels.

The application of AI-powered tools helps ensure that all steps of the project are well recorded, analyzed, and well displayed for all stakeholders to tick off the attainment of major goals.

Project management tools that have AI capabilities help to visually display where the project began and how it ended. This helps both the project manager and their clients conclude the interaction and render it a success.

Statistics by ResearchGate show that project managers who apply artificial intelligence in project management give accurate status reports of a project.

Therefore, both the stakeholders and the project management team can use it as a yardstick to gauge the success and viability of the project.

Conclusion

If you are a project manager who wants to deliver better results and increase the clients’ satisfaction levels, the application of artificial intelligence in the project management tools will play a significant role in attaining this.

Not only is it efficient, it also helps minimize room for error by ensuring decisions made are data driven.

Most project managers are skeptical of the use of AI in their project management workflows.

However, this should not be the case, artificial intelligence-powered tools will assist you manage risk, allocate resources accurately, and delegate tasks.

Artificial intelligence in project management can only assist and not manage a project. Not without your input!

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