If we take a high-level perspective on the biggest challenge for project managers then there is only one answer: deliver the project scope on time and on or under budget. There are a variety of statistics on project failure rates such as 68% of IT projects fail (PMI) or 70% of organizations reported at least one project failure in the previous 12 months (KPMG). Is anyone concerned? Whatever the source of information, the success rate of projects is far less than 50%. Not only is this astounding but it is also incredibly wasteful and should not be tolerated.
As professional project managers, we continue to be inundated by the litany of detailed reasons why projects fail. There are a variety of entities that offer project manager training to “fix us”. Guess what? It’s not working! Project methodologies need to be radically changed and the answer is to use new technology. Artificial intelligence, specifically machine learning tools, are the only way to increase project success rates to a significantly higher level than they are today. Find a way to disrupt your current project management processes with AI so that we can all be proud of project success rates.