Artificial intelligence - the next frontier of project management
Artificial intelligence is increasingly finding its way into project management tools with technological advancements made to manage everything from scheduling to analysing risk patterns of performance. These augmented PPM tools make AI an obvious choice to support organisations and their portfolio, programme and project management offices (PMOs) through transformational and business change. The rise of other emerging technologies like cloud solutions, digitisation, Internet of Things (IoT), blockchain, 5G mobile internet, automation, robotics and voice-driven project portfolio management (PPM) software will also increasingly change how these tools are used – allowing project information to be updated and accessed anywhere at any time. It will ultimately change how projects are directed (governed), managed and delivered for the better to ensure agreed products and services are delivered on time and within organisational budget constraints. Since delivering on time and hitting agreed deadlines has never been more important. From a customer perspective, less than optimal value delivered early may be more attractive than seeking maximum value delivered later.
With increasing access to empirical data, AI-enabled project portfolio management systems, will undoubtedly improve delivery timeframes where project managers will be prompted on urgent and unavoidable day-to-day activities focused towards achieving the desired future state and expected improved organisational performance. It will also enable management by exception, the portfolio and benefits management best practice technique used to enable the project manager to manage and deliver the agreed spending objectives on a day-to-day basis against set tolerances - for time, cost, prioritised benefits, risks, scope and quality (criteria) – without the constant need to seek direction and advice from the project board.
AI is complicated, and many organisations are still figuring out how to implement and gain value from the technology like data-driven decision making (DDDM). This ultimately supports decision making by project board members based on hard data rather than intuition or observation alone. As business technology advances, data-driven decision making will become a much more fundamental part of project management. AI-enabled PPM tools will empower project managers to do the right things in the right way. It will also alleviate the necessary burden of regular highlight reporting as AI-enabled PPM tools will use available data and information to automatically report to the project owner or stakeholders about how well progress performance is being achieved against agreed plans and where potential risk threats lie. This information will be made available anywhere at any time.
The future of work with artificial intelligence is about forging a new relationship between technology and talent that transforms project management and existing ways of working. How new technology is adopted and used will no doubt invariably shape project managers, and those who support them for the better. It does so through our relationships, processes and practices, particularly in how we work and how we organise work. Disruptive new project portfolio management technologies continue to emerge, compelling project managers to adapt and respond ever faster, particularly to the human and productivity implications of remote work technologies. Large-scale, long-term changes in technology, diversity and culture are transforming more than just jobs. They are transforming the meaning and value of work and the reasons we work. This can only be a good thing for customers, where outputs, capabilities, outcomes and/benefits i.e. a product or service that is of continued value to the customer.
Axelos Global Best Practice, PRINCE2 Agile, 2015
Published at pmmagazine.net with the consent of Milvio DiBartolomeo