How to Use AI for Project Management

According to the Harvard Business Review, an astonishing $48 trillion is poured into projects annually. However, only 35% of projects succeed.

One of the main culprits is the lack of use of AI technology in project management, which is a pity since AI tools are already available but need someone to apply them.

In addition, including AI in project management can increase the chance of meeting or exceeding ROI estimates by 23%.

So, if you’d like to try this new technology but don’t know how to apply it to PM, we hear you.

Read on to learn about how to use AI for project management.

Let’s dive in!

How to Use AI for Project Management in 9 Effective Ways?

AI tools come with their own unique functionalities, and one of the best ways to leverage them is to mix and match them to maximize their benefits.

1. Automate Repetitive Tasks

When you are responsible for coordinating various tasks and resources to complete projects on time and within budget, you’re probably dealing with repetitive administrative tasks such as:

• Data entry, 
• Report generation, etc.

We can assume that these are certainly not your favorite part of being a Project Manager.

Not only do these tasks consume a lot of time, but they can be tedious and error-prone.

This is where AI can make a significant difference. 

For example, it can automatically generate reports based on project data, eliminating the need for manual data entry and analysis.

2. Manage Risks

AI can analyze project data, compare it with historical data, and flag potential issues before they become problems.

Thus, you can identify potential risks and take proactive measures to mitigate risks and maximize project success.

In addition, AI can provide insights to facilitate decision-making by analyzing trends and patterns in project data.

3. Allocate Resources

Thanks to predictive analysis, AI can help you distribute resources more effectively and avoid over- or under-allocation.

Whether these resources are human, financial, informational, etc., AI can optimize their distribution and identify patterns and trends that show the gaps.

For example, AI technology analyzes past project data and makes predictions based on that data to show you what resources you might require for future projects.

As a result, you can better plan the sequence of tasks to ensure project completion within the specified time frame.

Let’s say you are looking for a developer.

Based on your past data, AI can act as a matchmaker and identify which developers have the necessary skills and experience to complete the task.

4. Handle Documents

AI can automate the categorization, indexing, and retrieval of project documents and deliver context-aware recommendations to project stakeholders when needed.

Furthermore, it can automatically extract key information from project-related documents such as:

• The project charter,
• Plan, 
• Status reports, and 
• Meeting minutes.

Thus, instead of going through hundreds of documents, AI tools can do it for you in a matter of minutes.

💡 ProTip:

Text Cortex’s Knowledge Bases allow you to upload your own documents and retrieve information from them.

You can upload PDF, CSV, PPTX, DOCX, and MD files, as well as URLs. For example, scanning and fetching information from an 80-page document takes 3 seconds!

Knowledge Bases enable you to store a vast number of documents, categorize and label them, and even share them with your team.

Consequently, you can automatically summarize project documents to quickly provide the project team with high-level insights on the project status, issues, and risks.

5. Leverage Virtual Assistants

Based on your input, AI tools analyze massive data sets and generate content.

How does it work? 

The system learns from your previous queries, project planning data, and the overall context to tailor interactions and capture vital information.

Thus, you can get instant replies to your queries, updates, alerts, etc.

💡 ProTip:

Zeno Chat allows you to input all the knowledge and style to personalize your AI to suit your needs better. 

As a result, you’ll be able to provide background information and create a Persona that will act and respond to queries in your tone of voice.

Therefore, it will adjust the responses accordingly and reference your documents when necessary.

6. Create and Summarize Tasks

Being a project manager, you probably find creating tasks one of the dullest aspects of project management.

Assigning tasks to team members, setting due dates, providing descriptions and requirements, filling in reports, etc. - all of this rings a bell, right?

Well, thanks to AI tools, you can automate these tasks and save precious time.

For example, the AI tool can automatically generate tasks based on your descriptions, create and summarize reports, etc.

💡 ProTip:

TextCortex allows you to enter prompts to generate, summarize, or reformat task data and descriptions.

Thus, you can create blogs, drafts, presentations, bullet point lists, build project plans, etc.

A wide range of text-editing tools enable you to further paraphrase, summarize, rewrite, and tweak content to fit your needs.

Furthermore, with TextCortex, you can save your prompts and create templates you can always return to. 

This way, you can work with the same prompt over and over again for many different cases.

7. Create Visuals

Thanks to NLP and machine learning algorithms that analyze the data collected, AI tools allow you to create visuals, graphs, and presentations.

The tools use the data to automatically generate and update charts, graphs, and other visualizations that can help you and your team members understand project progress.

Furthermore, AI can also generate automated summaries of project data and results to create informative and visually appealing presentations in return.

💡 ProTip:

TextCortex offers access to DALLE-3 to create visual-based tasks, such as graphs, tables, etc.

To do so, you only need to enter a prompt and get a DALL-E 3 compatible image.

8. Schedule Projects

AI can suggest optimal project schedules based on historical data and project constraints and help you to:

• Create realistic timelines, 
• Avoid schedule conflicts and 
• Deliver projects on time.

What’s more, you can make adjustments to the project schedule based on real-time updates from various team members.

9. Boost Collaboration & Communication

AI-powered collaboration tools provide real-time updates and alerts to inform your team members about project status changes.

In addition, they keep track of team members’ progress and ensure that everyone is on the same page.

Besides providing alerts when tasks are overdue or behind schedule, AI tools can automate meeting scheduling and real-time chat-based communication.

💡 ProTip:

The Organizations feature streamlines knowledge management between you and your team members by providing access to all relevant information and documents.

Ensuring everyone has sufficient access enables effective communication since all team members are aligned and on the same page.

For example, you can share Knowledge Bases with your team in a co-working space, which will help you all stay organized and up to date with the most relevant information.

🎁 Bonus: 9 Top AI Tools for Project Management

As a special treat, we’ve curated a list of our top picks regarding AI tools for project management.

What The Future Holds For AI Technology in Project Management?

Like with any other technology, you need to lay the groundwork and embrace the learning process to maximize the benefits AI brings.

And although fear of change and fear of being replaced by AI are still significant factors in adopting AI, bear in mind that there isn’t an AI tool without a human.

You’re still the one calling the shots, providing inputs, and deciding on their validity. 

And the more precise you are, the better the results.

An AI tool is an extension that helps you complete and deliver projects on time. 

The solution to make that transition smooth, intuitive, and user-friendly is TextCortex. 🤖

How Can You Use TextCortex for Project Management?

TextCortex is an AI-powered content-generation tool packed with robust text-editing features to improve and polish your content.

Besides rewriting, paraphrasing, summarizing, expanding, etc., to help you create and edit a variety of content types, reports, tasks, projects, etc., TextCortex can:

🔥 Facilitate collaboration and communication among project team members by providing a centralized platform for document sharing.

🔥 Help you easily convert as few as 3 ideas into an email to send to stakeholders.

🔥 Ideate, brainstorm, draft, and store your ideas and thoughts, create tables, various lists, and to-do tasks with our AI Note Editor.

🔥 Break the language barrier by automatically translating messages and documents into more than 25 languages for more effective cross-cultural communication.

🔥 Easily transform speech to text so you can, for example, record a meeting and turn the audio into meeting notes.

🔥 Do a reverse process and convert text to speech while ideating, brainstorming, or jotting down your thoughts.

🔥 Set up a meeting summary automation sequence to keep track of meeting notes and share summaries with the help of our Zapier integration.

🔥 Create lines of code if you are into software project management to create shortcuts and automate workflow with our Developer Mode.

It offers multiple programming languages, such as Python, Javascript, Go, PHP, and Java, along with SQL and Regex.

Thanks to TextCortex’s abundant integrations, you can also write code outside our platform by clicking an icon in the bottom right corner to open Developer Mode automatically.

Speaking of integrations, TextCortex provides plenty - you can use it on over 4000 platforms as an app, a browser extension, a desktop app, or a mobile app.

Ready to dig into our TextCortex world?

Sign up today for a freemium account and achieve your project goals more effectively.

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