Access to new resource related to Artificial Intelligence and Project Management added to PMWL
Resource provided by Ameena Haq
11 June 2024 – Rawalpindi, Pakistan – Access to a new resource has been added to the PM World Library (PMWL) related to AI and Project Management. The new resource is titled “AI in Project Management: Exploring Theoretical Models for Decision-Making and Risk Management”, by Opeyemi Abayomi Odejide and Tolulope Esther Edunjobi, and published in Engineering Science & Technology Journal in 2024.
This study examines the integration of Artificial Intelligence (AI) into project management, emphasizing its potential to revolutionize decision-making and risk management. The authors discuss how AI, through machine learning and deep learning, can analyze vast amounts of data to uncover patterns and trends that are not easily detectable by human analysis. For instance, machine learning aids in resource allocation and scheduling by analyzing historical data and predicting project performance, while deep learning tackles unstructured data like project narratives and risk reports, providing realistic scenario planning and proactive risk mitigation. Traditional risk management is labor-intensive, requiring thorough analysis of vast amounts of data to identify potential threats and develop mitigation strategies. AI can streamline this process by analyzing data from various sources, industry reports, and external factors like weather forecasts, to identify and prioritize risks early in the project lifecycle.
The paper also addresses the ethical considerations and challenges of implementing AI in project management. The potential for data bias and the necessity for human oversight are highlighted as significant concerns. The authors argue for a balanced approach where AI aids project managers by offering insights and automation, but critical thinking and creativity remains essential ensuring transparency and accountability throughout the project lifecycle. The collaboration between AI and humans, focusing on high-quality, unbiased data and continuous monitoring, is presented as the ideal path forward to ensure responsible and effective use of AI in project management.
To access this new resource (and other resources related to AI), go to the Advanced and Hot Topics section of the library at https://pmworldlibrary.net/advanced-hot-topics-in-ppm/, scroll down to AI, ML and Project Management, scroll down to the resource. Must be registered and logged-in to access. If not yet registered, please consider the 30-Day FREE Trial Membership at https://pmworldlibrary.net/trial-membership/
This new resource provided through the PMWL university research internship program; to learn more, click here
