There are unprecedented opportunities at the intersection of AI, project management, and sustainability. Unfortunately, without proper execution, projects to implement AI come with complexities, costs and a carbon footprint that undermine sustainability goals. It is essential for project managers to learn to implement “green algorithms,” specialized AI constructs designed to both enhance operational efficiency and prioritize sustainability. A five-step framework of defining sustainability objectives, centralizing data, customizing algorithms, pilot testing, and full-scale implementation can guide project managers and leaders as they deploy green algorithms effectively.
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In June 2023, we embarked on a exciting journey to explore the uncharted territories of Atificial Intelligence within Project Management.
The rapid technological advancements an the transformative potential of AI elevated our curiosity, leading us to conduct a comprehensive survey among experts and practitioners worldwide.
AI can enhance project management through automation of repetitive tasks and anable more efficient scheduling, resource allocation, and risk assessment.
As a senior project sponsor, you oversee a complex portfolio of projects with a combined budget exceeding $50 million. One of these is a high-stakes transformation project to modernize your company's production facilities. As you sit down for the weekly status update meeting, you're greeted by an AI-driven bot. It seamlessly synthesizes information from multiple projects into actionable insights, providing a clear snapshot of your entire project portfolio.
What You Need to Know and Do is an indispensable resource for you and your organization as you embark on the exciting and challenging journey of digital transformation. It features insightful ideas and best practices that drive digital transformation. Contributors include leading thinkers and practitioners drawn from around the world.
The stakes are high. As Project Management Institute President and CEO Pierre Le Manh writes: “Ultimately, digital transformation is about driving business growth and success through technology. It is about finding new and innovative ways to deliver value to your customers and stay ahead of the competition. With the right tools, strategies, and mindset, you can emerge stronger and more competitive than ever before.”
When it comes to artificial intelligence (AI), project leaders should ask themselves two key questions. First: Are my organization and I willing to adopt AI-inspired tools as part of the ordinary course of doing business, particularly in project management? This question will give you a sense of your organization’s appetite for adopting machine learning (ML)–inspired technology. The second—and, in fact, the more critical question—is: Are my organization and I ready to take this important leap forward? This question will give you a sense of how quickly you can identify and apply AI to projects.
Technology has begun to transform how organizations deliver projects, and rapid change lies ahead. What role will leaders play when AI is deployed in project management?
While AI is not yet a standard tool in the world of projects and project management, there is no doubt that it will disrupt this discipline, and probably faster than we expect. The prospect of that transformation seems almost incredible: in most organizations the tools used to manage projects remain relatively basic compared to the sophisticated digital technology being deployed in other parts of business. Most projects are still managed with Microsoft Office tools, such as Excel and PowerPoint. Can you imagine running your business and operations with spreadsheets? Well, that reflects how little technology has evolved in project management.
Join Antonio Nieto-Rodriguez and Ricardo Vargas on a informal conversation about their featured article on Harvard Business Review about artificial intelligence and other project management technologies.
Only 35% of projects today are completed successfully. One reason for this disappointing rate is the low level of maturity of technologies available for project management. This is about to change. Researchers, startups, and innovating organizations, are beginning to apply AI, machine learning, and other advanced technologies to project management, and by 2030 the field will undergo major shifts. Technology will soon improve project selection and prioritization, monitor progress, speed up reporting, and facilitate testing. Project managers, aided by virtual project assistants, will find their roles more focused on coaching and stakeholder management than on administration and manual tasks. The author show how organizations that want to reap the benefits of project management technologies should begin today by gathering and cleaning project data, preparing their people, and dedicating the resources necessary to drive this transformation.
Businesses are scrambling to signal compliance with ESG (environmental, social, and governance principles). However, as ESG entrenched itself in the mainstream, it lost much of its original meaning and impact and became more of a marketing tool. Ricardo Vargas writes that the problem may lie in the decoupling of the ‘social’ and ‘governance’ components from ‘environmental’ concerns. He uses the example of a project to rebuild homes in Haiti after the 2010 earthquake to show how all three ESG components can work together.
In 1968, the government of the Manitoba— a medium-sized province located at the geographic center of Canada—completed what was, at that time, one of the great engineering marvels of the developed world: the Red River Floodway.
The floodway is a 47-kilometer-long earthen channel used to divert surging water from the notoriously flood-prone Red River around the City of Winnipeg (Manitoba’s capital). The idea for the channel was first proposed by a government commission following the devastating flood of 1950 that completely submerged Winnipeg, requiring more than 100,000 people to be evacuated and causing damage that would amount to, in 2022 dollars, more than CA$11 billion. Even though the benefits were many, most political leaders shied away from the project. Most, but not all.
The success of digital transformation in organisations depends on a combination of technology and people. However, many leaders ignore the role of human capital in their plans. Ricardo Viana Vargas writes that when digital transformation efforts fail, it is often due to the mismanagement of people.
Informal discussion with Maged El-Hawary, Chief Information Officer (CIO) of ASGC about the future of project management and their case study featured on the book PM Next Generation, published by Wiley.
In this week's episode, Ricardo talks about the Global Project Management Forum 2022 in Saudi Arabia.
In this week's episode, Ricardo talks about the Gallup - State of the Global Workspace 2022 report. This report is the result of an interview with people around the world and shows the level of stress, motivation, and engagement of people working in companies. According to the report, 60% of people interviewed consider themselves disconnected from work. And to make matters worse, 19% are actively disengaged.
Ricardo Vargas, in partnership with Dr. Harold Kerzner and Dr. Al Zeitoun his new publication: Project Management Next Generation: The Pillars for Organizational Excellence. In the book, a team of world-renowned project management leaders delivers an expert discussion on project management implementation in organizations of all kinds.
The book explores 10 pillars of project management that will be critical for companies in the coming decade. It offers contributions from industry changemakers and thought leaders that provide the perfect balance between practical experience across a variety of programs, projects, and transformation initiatives.