Role of Artificial Intelligence in project management
Artificial Intelligence, is a term that is creating ripples ever since it was first coined in 1956. Due to its proven ability for helping businesses growth, many organizations are tapping into its potential to automate day-to-day tasks. Since then, it is slowly entering into every sphere and business, broadening the scope of what was once considered impossible. Now, you must be wondering how AI is going to help in your project management?
From software development to a construction company, to logistics and finance, every organization has projects that require planning, managing and monitoring. You have to get special training for automated tools because they are too complex. What if you can get indications about potential problems?
How AI helps project managers ???
Project managers can turn difficult projects around by adding intelligence to performance monitoring tools. In this way, you can track progress and be warned of potential risks that threaten project delivery. Furthermore, you get to rule out those projects, devoid of any profitable outcome. From this, project management can be easy to handle.
With an aim to avoid any surprises when you reach the end of project delivery, the three areas where AI provides conflict-resolution are:
Risk estimation :
Creating a great plan, in the beginning, does not guarantee a perfect ending. Changes that occur during the projects and external factors make outcomes unpredictable. Estimates you design at the beginning are mere guesses and predictions. Modern project management technique such as agile and other modules aim to reduce uncertainty by working continuously, but still, they do not guarantee final delivery. Accessing risk accurately is hard and the human mind is not good at doing risk-based probability management.
For that purpose, you can use Aptage. Aptage is an advanced decision-support system that leverage artificial intelligence technologies to better understand, measure and manage risk and uncertainty in projects. Aptage with the help of machine learning, predict the outcomes of projects using data you already have, such as the start date and end date of various phases of the project, to learn about the completion rate of the team and predict the likelihood of delivering the project on time. The Aptage system can add an upper and lower bound to these dates to account for delays within reason. If the systems show high confidence in a particular project, perfect delivery is guaranteed.
Resource Management :
In order to ensure that your projects remain on track, it is necessary that the right people work on them. AI digs into the history of past projects, which provide you real-information regarding resource management. Based on this information, you would know whether your resources are ready to be deployed or not. You can even add or subtract resources from the project, if a gap arises in the hours required, versus project availability.
Artificial intelligence also helps your resources access real-life training material which helps them to enhance their skills. And increase their knowledge quickly. This further reduces the time required to on-board them on to new projects. Resulting into faster project delivery with your clients gaining clarity on project deployments.
Resource optimization is an essential consideration when you reshape your enterprise structure. By allocating optimal tasks to your resources, you ensure that your staff productivity rates remain healthy all year long. Additionally, when repetitive tasks are automated your staff will have enough spare time to make project-centric decisions. It will positively influence its successful delivery.
Predictive Analysis :
Intuitive prediction by artificial intelligence is a statistical approach that guarantees your project’s successful delivery. Robotic process automation (RPA) could be useful for resource optimization and scheduling. If you can define business rules or create data models that they can use to evaluate and report. Not only does it help you identify the right number and type of resources needed, but also help reducing labor costs. the resource team you create after this can then diagnose and solve technical or personal conflicts that arise.
Moreover, predictive tools contain the exception handling feature, which points you if there is an excess or shortage of the right resources. The idea behind this system is to tactically identify and block risks before they take over your project. This can help you to prepare optimum project schedule.
Conclusion :
With the exceptional advancement in AI, people fear that it will steal their jobs by taking over every industry. By reducing the human requirement to a minimum. But if you look at the positive side, you can see that the benefits of AI are amazing that can help achieve numerous milestones in the future.
Planears also aim to integrate AI in its platform. There is a future action option in Planears which helps managers to add next action items for a specified operation and then he has to do nothing more on that manually and it automatically moves the task up the timeline.
