Project management is always challenging and especially top management always struggles to know the real status of the project. About 65% of projects do not meet project objectives and most of the time they realize once they consume all of their project budget, timeline, and resources. Results – unhappy stakeholders, loss in business.
If you have attended any tech session or project management event recently then you are probably hearing a lot about artificial intelligence (AI) in project management. But many of the session ends up with forecasting and speculation, not with any real solutions. We have been researching these solutions for last 5 years and struggled to find a single solution available in the market which complements the needs of Hybrid Project Management with the use of Artificial Intelligence.
According to our research, 90% of Project Management Software was designed covering fancy task management solutions. Project management software was not suitably designed considering the need for top-level management.The objective of the Project Management Office is to deliver strategic Initiatives, drive projects and importantly updating top management real-time projects, programs or portfolio’s status. But most of the PMO’s are using multiple software to generate those reports since they do not have any integrated solutions.
Throughout project life-cycle, any project encounters a series of risks and uncertainties that can cause a failure or sometimes it can create positive risks too. The team especially project manager and top management need to regularly assess and respond to all the risks they identify based on their experience, knowledge and available tools. The challenge with the ongoing risk evaluation can turn into a disaster if the team fails to register new risks on-time and escalate the same.
But what if you could use an intelligent risk scoring system and escalation AI software which historical data, risk logs and incoming requests to come up with an improved risk management process to manage more efficiently. BASELINE PMO Software has sophisticated algorithms for predicting outcomes and identifying possibilities of threats and vulnerabilities affecting projects leading to reduce project failure rate and save resources cost.
Therefore PMaspire has created an AI-Based Project Management Office Software named “BASELINE PMO”. It is a cloud Project Management Tool helps project sponsors, project managers manage project online with transparency and clear visibility. With AI-based PMO Software, users can view Project Summary with Brilliant Clarity, can manage schedule and cost baseline with proper audit trail and revision history. Forecast project Success or Failure using earned value management (EVM). In addition, Can manage resource calendar, measure resources velocity with load management! Track project delivery and milestone through user-friendly Kanban board and many more.
BASELINE PMO is the first of this kind of Artificial Intelligent (AI) tool available in the world which specially designed for the Project leadership team especially Project Sponsor and Project Manager.
Key modules you need to manage your AI-Based Project Management Office:
Project Builder/Project Charter
Sprint / Milestone Management
Resource Rate Card
Personal Kanban board
Project Kanban Board
Team Kanban board
Integrated Risk Management
Integrated Issue Management,
Integrated Change Management
Project Retrospective or Lessons Learned
System Generate Project status report
Productivity Report/Velocity Report
Project Burndown Chart
Resource Rate Card Report
Task Allocation Report
Project Issue Report
Project Risk Report
AI in Project Management means using a smart algorithm to give real-time project status of the project which helps senior management in effective decision making. This may include
Project forecasting (AI will predict if the project will pass or fail),
Intelligent Risk management and Escalation
Intelligent Issue Management and Escalation
Intelligent Task Distribution
Intelligent Resource Management and Skill Matrix
Intelligent Lessons Learned (System will predict which are the projects are more successful in X organization)
How AI Predict Your Project Success:
If you plan to set up your project management office, you really need an integrated system that has all these amazing features to smooth your project management life cycle.
*A Guide to the Project Management Body of Knowledge (PMBOK® Guide) “PMI”, “PMP”, “PgMP”, “CAPM”, “PMI-ACP”,”PMBOK Guide” and the PMI Registered Education Provider Logo are trademarks of Project Management Institute, Inc.