AI Project Management Boosts Enterprise Workflow Efficiency

"It’s about being open-minded and proactively considering how and where AI can aid project management. And if your organization is not talking about AI yet, lobby to get the conversation started.” - Peter Taylor, Vice President of Global Project Management at Ceridian.

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AI project management is gaining traction in enterprises, with nearly 90% of project managers recognizing its potential to transform the field. How is AI used in project management? AI can be incorporated into project management in many ways, from automating simple administrative actions to performing very complex tasks like resource allocation and risk management. It's important to note that while AI enhances efficiency and decision-making, the role of project managers remains crucial. They provide the strategic direction, human judgment, and leadership essential for project success and are increasingly focused on integrating AI tools effectively within their teams. In a technology review firm Capterra survey, 93% of project managers reported positive ROI from their company's AI project management tools or tech investments over the past year. This is partly because of AI’s ability to solve many of the challenges faced in project management.

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Some of the challenges related to project management are resource allocation, task prioritization, risk management, cost control, communication, and collaboration. These challenges can significantly impact project outcomes and overall success. AI can help address these issues. This article will discuss how AI can assist project managers and how companies use it to solve challenges. We’ll also explore how AI platforms can enhance project management operations and improve outcomes.

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Building Smarter: The Impact of AI on Construction Project Efficiency

AI in project management can help automate routine, repetitive, and time-consuming tasks. AI platforms can also be used to automate project report generation. These reports include progress updates, status summaries, and performance metrics. AI can even be used to customize these reports to meet project-specific requirements. By automating such routine tasks using AI, project managers can spend more time on critical activities like strategic planning, stakeholder communication, risk assessment, and team leadership to drive overall project success. Doing so leads to improved decision-making, enhanced project outcomes, and overall higher productivity. According to a report by McKinsey, automation can boost global productivity growth by 0.8 - 1.4 % every year.

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For example, Barton Malow, one of America’s largest construction management firms, faced issues like difficulty capturing data and hours of extra work when managing its project teams. With the AI tool AutoSpecs, Barton Malow was able to automate its project management tasks, significantly reduce the time spent on specification reviews, and allow its teams to focus more on critical project aspects. 

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AutoSpecs uses natural language processing to read complex construction documents, pull out key information, and provide useful insights. It automatically creates searchable and shareable submittal logs, turning what was once a manual and time-consuming task into a streamlined, automated process. These logs can also be exported to BIM 360 for easy assignment to subcontractors and review by architects and engineers. This automation boosted their efficiency and improved the quality of their work. Daniel Stone, Senior Innovation Manager at Barton Malow, said, “Now that we have AutoSpecs, our teams have more time to review the log and the project as a whole. AutoSpecs is a safety net for our teams.”

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Predictive Analytics to Help Project Managers Make Better Decisions

Managing projects and keeping them on track without delays is crucial. In fact, 45% of delayed product launches fail to meet their internal targets, with an average failure rate of 20%. AI can step in and assist companies with project management through predictive analysis. Data-driven insights can help project managers anticipate challenges and drive successful outcomes. AI platforms can be used to identify patterns and trends that can empower better decision-making than solely relying on human intuition. These patterns and trends are gathered by analyzing vast datasets, ensuring the final decisions are backed by the most relevant data. Identifying issues early on using predictive analytics allows teams to take preemptive measures that can keep the project on track and avoid delays.  AI predictive analytic tools can also be useful for scaling companies like Fluxym.

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Fluxym, a Paris-based consulting firm specializing in source-to-pay solutions, faced challenges in managing its rapidly expanding operations due to the limitations of its internally developed project management system. The company struggled with issues such as a lack of global visibility over projects and resources, inefficient KPI tracking, and reliance on manual, time-consuming, and error-prone updates. These problems led to delays, operational inefficiencies, and bottlenecks that hindered the company's ability to scale effectively.

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To address these challenges, Fluxym adopted Forecast, a comprehensive AI project management platform designed to meet the needs of expanding companies. Forecast provided essential features such as advanced analytics, automated KPI tracking, project management tools, and time sheets. Using machine learning algorithms, Forecast was also able to analyze historical project data to predict future trends, and Fluxym was able to anticipate potential delays and resource bottlenecks. As a result, Fluxym improved project efficiency by reducing manual updates and improving KPI tracking, which contributed to more strategic decision-making and better overall operational management.

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Improving Communication with AI Project Management Tools

Another essential project management area that AI can assist with is communication. Effective communication ensures that all team members are aligned, reduces misunderstandings, and maintains a cohesive approach to achieving project goals. Clear communication helps coordinate tasks, share updates, and promptly address issues, preventing costly delays and errors. A 2012 McKinsey study revealed that strong communication can boost productivity by as much as 25% when team members are well-connected and share a common understanding of goals and objectives. One such corporation that uses AI project management tools for better communication is Glyphic Biotechnologies, Inc. 

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Glyphic Biotechnologies, Inc., a biotechnology startup focused on advancing proteomics research, faced challenges in efficiently managing meeting notes and action items. As a company working on a next-generation protein sequencing platform, they frequently hold meetings to align research goals and tasks. However, manually taking notes during these meetings proved disruptive and time-consuming, often leading to missed information and extended meeting durations. It was difficult for the team to keep track of key decisions and follow up on action items.

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To overcome these issues, Glyphic Biotechnologies used Fireflies.ai, an AI-powered meeting assistant that automatically records and transcribes meetings to make capturing and organizing meaningful discussions easier. With Fireflies.ai, the team could search transcripts for specific tasks and discussions using AI-driven features like Smart Search, reducing the need for repetitive clarifications and ensuring all action items were documented and accessible. Meeting processes were streamlined, time was saved, and the overall team productivity increased by allowing them to focus more on their core research efforts rather than administrative tasks. Using Fireflies.ai helped Glyphic Biotechnologies maintain clear communication and keep projects moving forward efficiently.

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‍Key Takeaways from AI in Project Management

The adoption of AI platforms and tools for project management has brought many benefits for both large and small corporations. These tools help automate routine tasks, enhance decision-making with predictive analytics, and optimize resource allocation and risk management. Even though 80% of project management tasks will be run by AI by 2030, these tools will not replace project managers. Instead, they will empower them to focus on more strategic functions that improve efficiency and project outcomes. The human element, combined with AI capabilities, remains crucial for successful project completion. As AI continues to evolve, it will increasingly complement and amplify human skills in project management.