DefinePK

Abstract

The modern business landscape is evolving rapidly, and each project comes with its own set of challenges and complexities. This calls for new and more inventive methods of handling such projects, as this area of work is becoming increasingly intricate and fluid. This study is centered on the predictive use of AI (Artificial Intelligence) technologies like ML (Machine Learning) and LLMs (Large Language Models) to ensure more effective project management at each of the ten PMBOK® knowledge areas. Merging the qualitative feedback from senior project managers and the quantitative KPIs—budget variance, schedule adherence, stakeholder satisfaction, and risk response time—from 84 organizations in construction, pharma, IT, finance, and manufacturing based in the EU, UK, USA, and Middle East provides richer insights.  The analysis demonstrates how advanced AI tools, from predictive analytics to intelligent chatbots, streamline a project’s life cycle by enhancing efficiency, acuity, and overall decision-making. Predictive AI is demonstrated to bolster schedule and risk management as well as stakeholder interaction. Traditional metrics such as schedule creation and risk detection indicate a significant improvement for AI-supported projects, with 50% and 25% improvement respectively, as well as 30% higher stakeholder satisfaction.