Artificial Intelligence Meets Project Management: Faria Noor: 6846 Sara Sarwar: 6869 Nimra Zafar: 6891
Artificial Intelligence Meets Project Management: Faria Noor: 6846 Sara Sarwar: 6869 Nimra Zafar: 6891
Artificial Intelligence Meets Project Management: Faria Noor: 6846 Sara Sarwar: 6869 Nimra Zafar: 6891
Project Management
Faria Noor: 6846
Sara Sarwar: 6869
Nimra Zafar: 6891
Artificial Intelligence
These are Skills and behaviors related to leadership which enable the Project manager
to manage the stakeholders and take them through the project journey.
This is the area which Project manager can focus while some of the effort of project
manager in other areas can be supplemented by AI.
Most often this is the area which gets backseat during a project and contribute to
project failure. Aligning all stakeholders to a shared goal is the key to Project success.
Benefits of AI that will transform project
management
Risk predictions
An AI system can alert the project manager to potential risks and opportunities by using
real-time project data analysis.
For example, watching the time spent on a certain task can help you predict whether it
will meet the deadline.
Many industries like credit scoring, counter-terrorism, banking, and finance are already
using AI to predict events before they happen.
AI is great in doing the repetitive task as compared to a human being which increases the
visibility in projects.
It’s all about collecting the right pieces of data to predict the possible outcomes
Eliminate repetitive tasks
The research revealed that executive-level and the middle-level use up 54% of
their time doing administrative activities, but when there will be AI, it will take
only 25% of their time.
When AI will do most of the repetitive work, project managers will have enough
time to do their real work. And removing repetitive tasks can make time to
undertake some other tasks and boost productivity.
Improve productivity & efficiency
AI can predict errors in projects and find the number of defects at any
stage to measure the project quality.
Forexample, AI can observe the progress of the actual project. And also
compare it to the project’s planned schedule. And then recommend how to
bring the project back on track
Better project analysis
Usage of AI in project management is on the rise and way things are
going it will help project managers to take smart decisions and
effectively manage the triple constraints.
ANN
o A machine learning approach that models the human brain and consists of a number
of artificial neurons linked by weighted connections
o ANNs demonstrate the ability to learn, recall, and generalize from training patterns
or data (numeric, non-numeric or both).
GA
Iterative search methods that mimic the natural biological evolution process
o
and/or the social behavior of species.
o GAs utilize the natural evolution processes of selection, mutation and cross-over
to arrive at near-optimum solutions to large-scale optimization problems, for
which traditional mathematical search techniques may fail.
Fuzzy logic
o Fuzzy logic is an approach to computing based on "degrees of truth" rather than
the usual "true or false" (1 or 0) Boolean logic on which the modern computer is
based
o A form of many-valued logic in which the truth values of variables may be any
real number between 0 and 1
AI in Project Planning
ANN to predict the possible cost over-runs based on the selected contractor,
the competence of the project manager, the project size and the type of
contract used
KBES to assess claims and provide expert decisions based on the claim
conditions
Going forward the project manager need also to plan for communication
protocols for Communication between AI Assistants in Project, Customer
and vendor landscape to enable project success.
AI in Procurement Management
AI will able to provide a risk analysis and credit check of Suppliers and
recommend the right supplier to Project manager.
Resourcing bot can match the Skills required for the project with the resource
availability in the organization and recommend the resources.
It can also identify the training required based on the resource skill matrix
and assign the necessary training.
In case there is a hiring requirement for project, resource bot can scan data
sources like LinkedIn and identify suitable and available candidates.
Once the work is completed and validated the bot the bot coordinates with your
accounts payable system to pay the freelancer. The planning bot automatically
updates the plan and pushes the data to the BI dashboards.
AI in Time Management
Scheduling Bot could harness the learning from previous projects and suggest
number of possible schedules based on the project context and triple
constraints.
Intelligent schedulers can readjust the project schedule based on the project
progress and team performance level.
Cisco’s project assistant Spark is a project assistant which help Project team
to update task status by entering a natural language text in a chat window.
The AI assistant can plan and forecast the required resources based on
an estimation model that it maintains with data from the project itself
and other projects.