What is AI for project management?
Artificial intelligence, or AI, for project management includes digital tools, software and machine learning technologies that employees use to plan, organise and manage projects.
Over time, effective project management has become increasingly important for business operations to ensure activities are completed as efficiently and productively as possible. This can lead to benefits like reduced costs and increased profit, improved customer satisfaction and enhanced employee engagement. For example, when employees know their deadlines and roles within a project, they are more likely to finish their work on time, preventing delays for customers.
AI offers new capabilities that reduce manual labour, human error and delays. It can recommend adjustments, identify problems before they occur and provide real-time insight, helping to complete projects more quickly, easily and successfully than ever before.
The benefits of AI for project management
As artificial intelligence continues to evolve, its usefulness for businesses grows. Here are some key advantages of AI in project management.
Improved planning
Planning projects can be the most labour and time-intensive task in project management. AI can quickly and automatically do manual and repetitive tasks like scheduling meetings, allocating staff resources based on availability, and estimating costs for materials. Through machine learning, AI can identify and fast-track many common tasks that apply across projects by analysing historical projects, identifying commonalities and predicting future outcomes.
For example, AI can use historic and forecast cost estimates to determine if a new project will stay within budget. It can also suggest ways to reduce future costs or provide scenarios for different adjustments.
Better prioritisation
AI can analyse the projects that are the most valuable to the organisation, as well as value for money; have higher chances of success; or present the most risk. Within projects, AI can alert project managers to tasks that need to be completed before others can occur. Or, AI can forecast potential delays that may require tasks to be started earlier in order to be completed on time.
For example, AI might identify changing consumer trends, suggesting that a project would be more successful if launched in summer rather than autumn. It might also detect a backlog in a planning approval agency, anticipating a two-month delay.
Real-time advice
Traditionally, project managers have had to communicate directly with employees to ask for status updates or other questions and wait for their response. Project managers also have had to assume how long it will take their employees to complete assigned tasks. Now, virtual assistants – text or voice-activated chatbots – can analyse activities and provide real-time advice. They can also warn if a task might negatively impact the day’s work or the project overall.
For example, if an employee calls in sick, a project manager can ask the virtual assistant if the task is a priority required to be completed that day or if another employee has the capacity to add it to their workload. The virtual assistant can analyse how long it may take one employee ahead of another to complete, based on their past work history, and recommend who may be best for the job. Or, it may reveal the task can be completed the next day without affecting project performance.
Rapid response
AI enables businesses to respond more quickly as projects change, which is an advantage in a rapidly changing business environment. Measuring project success at the end of the project, or even as deadlines are being met along the way, is not always useful. Real-time analysis can advise whether adjustments to project tasks and deadlines are required, or if a schedule can be adapted.
For example, a retailer may decide to sell a new product and is required to source it from an overseas supplier. However, unforeseen shipping delays mean customer demand for the product will have waned before it arrives. AI can analyse whether it is value for money for the order to be cancelled, including any fees associated with doing so, or if it is best to receive the order and sell it for a smaller profit. In fact, if AI for project management had been used before the order was submitted, its capability may have been able to predict the likelihood of this scenario occurring in the first place.
On-demand testing
AI can test and trial products, services or systems to identify defects at an earlier stage of the project rather than waiting for milestones to be achieved. AI can create test cases to determine functionality up to a certain point and predict outcomes. It can also analyse the test results and make recommendations to improve them.
For example, AI can test if software is working correctly as well as check for previously identified weak points.
Administrative tasks
Already, various project management software is available that enables business leaders to have better oversight of team progress, review previous problems or give multiple employees shared access to information. However, new tools further aid administrative tasks.
For example, voice-to-text tools make it easier to get notes or summaries of meetings. Compliance monitors ensure regulations are not being broken. AI also can produce on-demand reports, distribute them to project partners and gather feedback.
How will AI affect project managers?
Project managers will still lead the project but will spend less time on administrative tasks. AI will free up time for them to build relationships with teams and partners, coach employees through situations as they arise, and provide support when needed. They can also focus on making informed decisions, rather than relying on intuition or rushing to meet deadlines.
How to incorporate AI in project management
Specialised AI for project management software is available from many providers. Publicly available and free generative AI products may also be useful for businesses looking to minimise costs initially.
Training artificial intelligence to operate with your business’s particular interests and activities top of mind may take time, as it may require a lot of data. Therefore, it’s wise to start small and build AI capabilities gradually, rather than expecting immediate results for big projects.
It is also important to train your workforce to use these technologies. If possible, set aside time in their schedules for learning and experimenting with the software. If employees resist the new way of working, address their concerns and help them through the transition. Listen to their feedback, answer questions promptly and provide necessary support.
The AI revolution is rapid, so try to stay up to date with advancements if you want to make the most of the technology. As AI’s capabilities improve, so will its ability to enhance project management and maximise each project’s potential.
