Machine learning is one form of Artificial Intelligence. And it is starting to be used in project estimating, scheduling, and planning.
This video is safe for viewing in the workplace.
This is learning, so, sit back and enjoy
Machine Learning
Machine learning is a generic term for programs that can use data to form their own rulesets and therefore imitate the way humans learn.
Therefore, Machine learning can be a powerful tool for project estimating, scheduling, and planning.
Machine Learning for Estimating
Machine learning can help improve the accuracy of project estimates.
By analyzing past projects, machine learning models can learn to identify the factors that impact project cost and duration, such as the:
- number of team members
- complexity of the project
- number of tasks involved.
It can use this information to create more accurate estimates for new projects. The challenge, of course, is to build a database of accurate data.
Machine Learning for Scheduling
Machine learning can be used to optimize project schedules by analyzing a wide range of factors, such as resource availability, task dependencies, and project constraints. Alongside this, it will consider options for parallel working, fast-tracking, or bringing in additional resources.
Associated with this, ML tools can also optimize resources to make project delivery more efficient and therefore make cost savings.
This is no different from what project managers do now, with basic software. The difference is that ML tools can search through simulations of hundreds of options to find the best results. They can assess them against the criteria we offer them.
Machine Learning for Project Planning
Planning goes beyond estimating budgets and durations, and creating a schedule. By analyzing past projects, machine learning models can also identify which project components tend to lead to greater levels of risk. They can then use this information to enhance project planning with contingencies and confidence levels.
Available Software Tools that Use Machine Learning
While there are a good number of Project-focused automation tools that use AI, there are fewer that can use AI for prediction, estimation, scheduling, and planning.
Tools like ClickUp and Wrike are using AI and ML for reporting, forecasting, prioritization, and search. But they do not yet offer estimation and scheduling tools. (2023 Q1).
Another tool, Ayanza, has a collaboration tool that looks very like ChatGPT embedded.
However, in the construction sector, we can see maturing use of Machine Learning to provide useful advice on how to plan, schedule and execute projects. A good example is Alice Technologies, headquartered in the US.
For mainstream project management, another example is Greyfly.ai. Their Intelligent Project Prediction (IPP) tool can predict project outcomes and identify underlying risks. It uses limited data points and Artificial Intelligence (AI) to make estimates, optimize resources, predict outcomes, and streamline processes.
Implementing Machine Learning Tools
As always, getting the software working is the easy part. The tougher part is transforming your project management organization. The key steps will be:
- Create the data sources, tailor your data model, and start collecting data
- Implement the Machine Learning software
- Configure the tools you need, to fit your own project processes and governance.
- Train your teams and communicate with stakeholders
- Maintain the system and its operation under constant review, evaluation, and improvement
Machine learning is likely to become a valuable tool for project managers. It will help us make better decisions and improve the accuracy of our project estimating, scheduling, and planning.
Artificial Intelligence & Project Management
Professional Briefing
Artificial Intelligence is here. What does it mean for Project Management and Project Managers?
This Professional Briefing includes a host of specially prepared resources:
- Full edited video webinar
- Decode the Jargon Glossary of 60 critical AI terms
- Reading and Viewing Lists
- Checklists of questions to answer and things to do
- Bonus PMTQ briefing
- Early access to all my AI content (including expert interviews)
- Contribute to and benefit from community discussion and recommendations
Recommended Videos to Help with Artificial Intelligence
Carefully curated video recommendations for you:
- What is Artificial Intelligence (AI)? | Video
- How can AI Transform Project Management? | Video
- How will Artificial Intelligence Impact the PM Profession?
- Can AI Really Predict Project Outcomes?
- Decision-Making AI for Project Portfolios – with Stuart Easton
- Briefing: Artificial Intelligence & Project Management [YourTube LiveStream]
- PMTQ & Digital Literacy: Essential PM Career Assets for the AI Revolution [YourTube LiveStream]
Recommended Articles to Help with Artificial Intelligence
What Kit does a Project Manager Need?
I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list. I added my own.
Check out the Kit a Project Manager needs
Note that the links are affiliated.
Learn Still More
For more great Project Management videos, please subscribe to the OnlinePMCourses YouTube channel.
If you want basic Management Courses – free training hosted on YouTube, with 2 new management lessons a week, check out our sister channel, Management Courses.
For more of our Project Management videos in themed collections, join our Free Academy of Project Management.
For more of our videos in themed collections, join our Free Academy of Project Management.
