David Werner wrote a recent Oracle blog that explained why artificial intelligence (AI) is the future of Project Management and how customers can begin leveraging the benefits of AI today.
There’s no denying that AI will have a big impact on the workforce in the future, and that includes the way people manage projects. Gartner put out a recent press release that was titled “Gartner Says 80 Percent of Today’s Project Management Tasks Will Be Eliminated by 2030 as Artificial Intelligence Takes Over.”
“AI is going to revolutionize how program and portfolio management leaders leverage technology to support their business goals.”
—Daniel Stang, Vice President of Project Management Research at Gartner
It’s not a surprise that AI is becoming increasingly popular and prevalent in the workforce. There has always been pressure on project teams to deliver projects more quickly and efficiently, and that pressure has historically driven the evolution of project portfolio management (PPM) software to increasingly automate the work done by project managers. This speeds up both execution and delivery by project teams.
This emerging technology brings many benefits and extraordinary potential to companies in all industries. As a result, project management professionals have come to expect the use of AI as the next logical step in automating project work to further speed up delivery.
Customer Successes with AI and Project Management
Many organizations in the project management discipline are already planning for the use of AI, even building it into educational and certification programs. For example, Northeaster University is incorporating AI into its project management curriculum to help teach project managers how to use AI to automate and improve data sets and optimize investment value from projects.
The Project Management Institute is another example of leveraging AI for project management. The Project Management Institute has approved multiple AI-related presentations for Project Management Professional (PMP) certification credits.
Human and Machine Working Together
Leveraging AI for project management does not mean that human project managers will be going away. David explained that many of today’s trainers and educators are working toward a goal of helping project managers not be replaced by emerging technology. In fact, the role of a project manager will likely be more important than ever during this time of change and automation. The focus of project managers will simply shift from tactical to strategic—much like what has happened for professionals in finance, HR, sales, and other lines of business during digital transformations.
As manual, mundane tasks become more automated, professionals will be expected to deliver more strategic value. AI or bots can complete tactical project management work like assigning resources or reporting status. Meanwhile, human project managers will focus on ensuring that project results deliver the expected business value and are aligned with strategic objectives.
How Oracle Project Portfolio Management Cloud Can Help
Enterprise-connected project management solutions like Oracle Project Portfolio Management Cloud can help ensure that results of projects are in alignment with the strategic goals of the business. This Cloud solution shares key information with other Oracle Cloud applications for strategic planning, HR, finance, supply chain, and other areas of the business that are directly related to projects.
Oracle is already building AI and machine learning into its Cloud applications to automate tasks and recommend potential next actions. Oracle recently announced a new project management digital assistant that provides instant status updates and helps users update time and task progress via text, voice, or chat. The digital assistant learns from past time entries, project planning data, and the overall context to tailor interactions and smartly capture critical project information.
Oracle Project Portfolio Management Cloud allows project managers to begin focusing today on delivering business value in preparation for what will be expected of their role in an AI-driven future. David explained that as project managers shift their attention to strategy, the business can begin realizing greater value from projects. This is a valuable transition for both managers and the business, and there’s no need to wait. You can leverage emerging technologies and a Cloud solution today.
For more information about how AI plays a role in the future of project management and other lines of business, check out the Oracle blog and additional Quest resources below.
For more Oracle ERP Cloud resources, case studies, best practices, etc., check out Quest’s Oracle ERP Cloud Content Center. There are resources and training available for all aspects of ERP Cloud, including risk management, financials, extensions, and more!