Using AI To Increase Project Management Maturity
No matter the industry, company size or business model, every organisation has goals. Running a business successfully is all about finding ways to reach these goals efficiently so you can increase revenue.
Years ago, simply having a dedicated project management strategy in place was enough. Because businesses are not always straightforward and face many challenges, project management maturity is now essential.
In this article, we are looking at what project management maturity is, how AI can support it, and the barriers you could face along the way.
What Is Project Management Maturity?
Project management has been around for years, and because of its benefits, it has been adopted by many companies. Project management maturity is an extension of this process, and so is quickly becoming the norm. It is a method for managing the effectiveness of business decisions, strategies, and processes.
The maturity level for each business will depend on the industry as well as short and long term goals. In addition to this, project management maturity depends on available resources, current strategies, and the project’s scope.
Businesses can improve their project management maturity using artificial intelligence (AI). Because these technologies work to augment your capabilities, they can help your team to work more efficiently.
AI brings many benefits to project management maturity; however, it hasn’t been adopted as quickly as you might expect. There are many reasons for this, so we are going to look in detail at how AI works for maturity and why some companies are preventing widespread adoption.
How Is Artificial Intelligence Used In Project Management?
AI is a vast area that covers a lot of varying solutions and tools. Machine learning is part of artificial intelligence, and it is great for use in project management. This is because machine learning algorithms can take data from existing projects and use it to build estimates of future project requirements.
Aspects such as resources, project length, budget, staff scheduling, and risk management can all benefit from artificial intelligence.
Machine learning techniques can build strategies that are based on existing data from other projects. These tools are effective because they can reduce the overall project cost and increase efficiency.
There are some other aspects of artificial intelligence that can also help with project management. Many tasks are extremely time-consuming but simple to automate. Basic project management tasks like scheduling meetings, booking rooms, and filing reports can all be automated using AI.
Artificial intelligence virtual assistants are the best options for these tasks because they can reduce the workload of a project manager.
How Can Artificial Intelligence Improve Project Management Maturity?
Companies that use artificial intelligence methods in their project management generally achieve higher project maturity levels. A survey from Villanova University reveals that a massive 81% of businesses are being impacted by AI, and 37% consider adoption of these technologies to be a top priority.
A separate study found an obvious correlation between companies using AI and those with higher maturity. Those with level 1 maturity, at the beginner level, do not see themselves as advanced in artificial intelligence. On the other hand, leaders at level 5 did consider themselves advanced in AI.
Because of this, we can conclude those beginner companies are likely to be using very basic AI if any at all. Leading companies are using AI to its fullest. This includes gathering actionable insights, analysing data, and understanding how to apply this to the project.
Why Can Adopting Artificial Intelligence For Project Management Be Challenging?
The adoption of AI in project management has been relatively slow, and this is because there are a few barriers in the way. Some of the key challenges include:
- People: There are a lot of misconceptions about artificial intelligence and what it is capable of. Because of this, many businesses do not understand the benefits it can deliver. If project managers cannot visualise how AI will fit with their strategies, then they will be reluctant to adopt it.
At the same time, many project managers are hesitant to release control. This is even more true when it means handing over control to a technology they do not fully understand.
Even companies that are keen to utilise AI will face some barriers. Because artificial intelligence is still a relatively new industry, there is a high demand for talent. Businesses must be able to find the right blend of talent for both AI and project management so that both can work well together. There is a delicate balance between training existing staff and hiring external talent.
- Processes: Project management maturity uses standard processes in order to achieve the end goal. A business with level one maturity will have no standard processes in place. Level two companies will have a handful, but these will work on a per-project basis instead of being well-structured.
As you raise the levels, the processes become more complex and standardised. The most mature organisations will be making specific efforts to review, measure and improve processes.
The more efficient the process, the more successful the project will be. Similar can be said for AI adoption in project management. Low levels of uptake will see simplified insights which are not analysed.
Higher levels of AI adoption will give businesses the data to create predictions, plan ahead and manage risks. Low-level organisations are often put off using AI because it won’t give the results they want. This is a barrier caused by their processes and not the technology.
Can AI Improve Your Project Management?
Ultimately, AI has the potential to greatly improve project management maturity. At TSG Training, we offer various training courses in both artificial intelligence and project management. With our specialised training, you can learn how to increase your project management maturity using AI. Whether you are already knowledgeable on the subject, or a complete beginner, we have a course for you. You can choose to learn in the classroom or online, and our team are always on hand for advice. Get in touch to find out more.