Project management is all about initiating, planning, executing, controlling, and closing a task at hand to reach a specific goal. All these phases are overseen by project managers. Since project managers are also responsible for team management, risk evaluation, and the overall success of a project, the post requires special skills. However, some of the responsibilities of project managers can be termed as futile and a waste of their time. They should not waste their expertise and abilities in handling painstaking tasks.
That's where AI and bots come into the picture. Basically, AI and bots are a means to offload tasks from managers and assign them to smart machines or software. The introduction of the simple project management software created a revolution!
Cutting the discussion short, let's talk about how AI and bots are changing project management in today's world.
Performing routine tasks efficiently
Project managers are responsible for numerous day-to-day tasks that can be performed using an AI based bot. Updating task sheets, generating project reports, or setting reminders are a few examples of routine tasks that, when offloaded to smart machines, have shown a marked improvement in the efficiency of routine tasks.
Gartner conducted a survey and predicted that 80% of all routine tasks will be eliminated by 2030, as a result of the collaboration between humans and AI bots. This collaboration will not only save time but also make sure no task is overlooked or forgotten. For instance, Nozbe, a simple project management software, helps you in keeping tabs on tasks that need to be completed by setting reminders and deadlines.
Improved team collaboration
Spiceworks conducted a study that concluded that one in four organizations already use AI assistants or chatbots to support team collaboration. Digging deeper into the study, it revealed that 26% of organizations used AI bots solely to improve team collaboration. The study also stated that 23% of organizations that have adopted AI bots are using them to support the administrative department.
Many companies have teams that are spread all over the world, therefore, team management and collaboration can be extremely difficult. However, using AI and bots can significantly improve both the scenarios. From basic communication to keeping the team in sync, smart machines can help in identifying inefficiencies, making sure the problem areas in a team are known and easily addressed.
Related read: What is a Chatbot and How to Use It for Your Business
Implementing multiple tasks effortlessly
Project managers need to handle multiple tasks at the same time, and in some cases, this can lead to rushed decisions. In addition, managers may also feel extra pressure in meeting multiple deadlines. As smart machines use AI and bots, they can undertake an increased workload to manage multiple tasks and complete them in time. The entire process is executed in a systematic, timely manner to make calculated decisions without any repercussions.
Project management software has made it extremely fun, easy, and convenient to manage multiple tasks at once! Let's say a company needs to make a monthly report, analyze performance specs, and prepare for a presentation all in one day. This software helps you in managing all that with efficiency. The software gives you a platform to maintain a record of to-do tasks and makes sure you get reminders to complete the tasks in time.
Effective risk/problem management
Evaluating and covering all areas that can potentially raise a risk or problem can be difficult for project managers. Although they are trained in risk management, sometimes, they can overlook a few factors. Having said that, AI and bots have the ability to calculate risk and problem factors, analyze each case study, and give accurate results. This, in turn, increases the accuracy of identifying risks and problems in project management. Along with pinpointing the risk, smart machines also suggest how the risk can be managed.
MIT Sloan performed a survey that covered how Airbus, an aeronautics company, tackled their business problems through AI. The team at Airbus was looking for ways to tackle production problems. For this, they incorporated AI in their processes. AI combined previous production data, performed fuzzy matching, and developed a self-learning algorithm to tackle the problem at hand. The case study concluded that AI was able to not only identify the problem areas but also solve them faster and more efficiently as compared to prior approaches - suggested by project managers.
Related read: How to Leverage the Project Management Triangle
Easy team progress and performance tracking
Keeping an eye on the team and analyzing their progress and performance is a challenge for project managers. The solution? Smart machines! One of the most important ways AI and bots are changing project management is their ability to keep track of every individual for analyzing the overall teams' progress and performance.
For instance, an easy project management software gives a platform wherein managers can keep a record of when a task was created, how much time a team member spends on a specific task, how long does it take to complete the task, and whether the task was completed after the set deadline. This record helps in tracking and evaluating every team members' progress and performance.
Related read: Transparency as a Key to Successful Partnership
Taking an example of Ideal, an AI-based recruitment company, a survey conducted by Capterra stated that their performance improved by 20%, revenue per employee improved by 4%, and turnover decreased by 35%. If the numbers can reach such levels when AI is incorporated in a recruitment software, imagine how high the numbers can go by introducing it to management software.
Without a doubt, AI and bots are changing project management for the better. From optimizing different tasks to increasing the overall efficiency of a team, smart machines take control and handle management processes properly. You can already see project management software equipped with AI tools available in the market and they are changing the trends in project management. These advanced software tools help you in performing, optimizing, and implementing different PM processes, right from creating tasks to analyzing team performance.
As an endnote, it is safe to say that AI and bots are bound to be a revolutionary phenomenon in project management in the near future.
This is a guest post by David Miller. David is a technical writer, his works are regularly published in various papers and top-notch portals. His rich experience in project management software helps him offer latest and fresh perspective on improved efficiency in workflows across organizations. His informative works on similar lines can be viewed on ProProfs Project.