The future of project management: AI-powered decision making

As technology advances and automation finds its way into multiple aspects of both business and personal life, many organisations now need to undergo continual digital transformation – with artificial intelligence (AI) at the forefront.

From predictive analytics to intelligent chatbots, AI is being used to automate routine tasks and provide more qualitative decision-making capabilities, bringing about exciting new possibilities for the project management industry. As AI has the potential to revolutionise the way project teams are currently working, but only if they know how to do so effectively.

In this blog, we will discuss some ways AI can be useful for project managers, the impact it will have on the industry and why learning and development is more important than ever to ensure this technology is utilised to its full potential.

What types of artificial intelligence are most useful for project managers?

• Machine learning (ML): Machine learning algorithms can analyse large volumes of data, identify patterns and trends, and can therefore be used by project managers to make data-driven decisions, optimise resource allocation and identify risks
• Predictive analytics: Giving project managers the ability to analyse historic data and forecast future events and trends, predictive analytics are particularly useful for identifying and managing risks. Predicting project delays, cost overruns, and other potential issues before they arise, will allow managers to take proactive approach to mitigate these risks
• Robotic process automation (RPA): RPA will save project managers time by automating repetitive and time-consuming tasks, such as data entry, ensuring they can focus on the more strategic elements of a project
• Collaboration tools: These tools help project managers and teams to share project documentation, ensure version control, and communicate effectively to improve team performance

These are just four examples of AI technologies that could be utilised by project managers, but there are many more, including decision support systems, knowledge management systems, and intelligent chatbots.

What impact is AI likely to have on the future of project management?

The increasing use of AI in project management could transform how projects are planned, executed, and monitored, resulting in:

• Better communication and collaboration
• Enhanced risk management
• Improved decision-making
• Increased efficiency, time and cost savings
• Optimised resource allocation
• And more…

The continued importance of learning and development…

Training in established project and programme management methodologies, such as PRINCE2®, MSP®, and Praxis Framework™, provides an individual with a comprehensive understanding of the project management principles and methodologies that can prove essential when trying to integrate new technologies into an existing workflow.

And, while AI will undoubtedly transform many aspects of project management, there are some areas that still require the human skills taught in these courses. Abilities such as communication, leadership, teamwork, conflict resolution and negotiation, will continue to be essential in managing project teams and stakeholders.

As the leading provider of project management training, visit our website to find out more about the courses available from ILX and book your training today!