RIYADH: Artificial intelligence technology is costly and requires project managers to identify specific areas within their initiatives that necessitate the platform, according to an industry head.
Fadwa Al-Bawardi, founder and CEO of FSAB Consulting, expressed her thoughts on the last day of the Global Project Management Forum in Riyadh – an event that drew over 2,000 attendees.
Al-Bawardi said: “If they bring too many tools just as a fancy way (to say) that we are using Al it’s going to negatively affect the budget of the project.”
She described AI as a toolbox that contains several different applications and instruments, adding: “All the algorithms, data, and results generated are part of the applications and tools within this toolbox.”
Al-Bawardi discussed Al’s potential to streamline project management tasks, predict outcomes, and provide valuable insights, saying: “Utilizing AI tools during meetings increases efficiency and can analyze all the audio conversation and can translate it into an actionable list.”
She claimed the rise of AI is part of the “fourth industrial revolution,” and the technology’s application will thrive in the area of predictions.
Al-Bawardi noted: “Through AI, project managers can make predictions based on the data inputted into algorithms. The other level is judgment, which is essential for determining the accuracy of these predictions.”
Roy Mikhael from professional services firm KPMG stated that he believes embracing AI will revolutionize the way projects are executed and monitored.
Mikhael said that traditional project management offices often adhere to rigid processes and methodologies that may need to be more adaptable to changing project needs or environments.
He reiterated that integrating Al in project management enhances resource utilization, improves risk management, and streamlines communication.
“This ensures that resources are utilized with maximum efficiency, leading to cost savings and Improved project performance,” said Mikhael.
He added that it also enables adaptive planning and agile execution, saying: “Al facilitates agile project planning by analyzing historical data, market trends, and external factors to adapt project plans dynamically.”
Mikhael added that this approach ensures project adaptability and responsiveness to changing conditions.
“By integrating AI-enabled performance monitoring, project managers can gain real-time insights into project progress, identify bottlenecks, and make timely interventions to ensure project transparency and accountability,” he said.
Mikhael discussed how the future of PMOs will involve adapting to new trends and technologies, such as automating repetitive tasks, which will in turn lead to enhanced project monitoring and reporting capabilities.
Additionally, this will include predictive project management strategies that utilize data-driven insights for better decision-making.
“Moreover, continuous learning and improvement will be a key focus for PMOs in the future, enabling teams to stay ahead of industry developments and trends,” said Mikhael.
