Unlock the Value of Artificial Intelligence
Calculating Project Value,
Nontraditional Project Management,
Categories: Agile, Benefits Realization, Best Practices, Calculating Project Value, Change Management, Complexity, Innovation, Leadership, Leadership, Nontraditional Project Management, Portfolio Management, Program Management, Project Delivery, Project Planning, Project Requirements, Roundtable, Strategy
By Peter Tarhanidis
Artificial intelligence is no longer a tool we’ll use on projects in the future. Right now, many organizations are formalizing the use of advanced data analytics from innovative technologies, algorithms and AI visualization techniques into strategic projects.
The maturity of advanced data analytics is creating an opportunity for organizations to unlock value. The McKinsey Global Institute estimates AI’s global economic impact could climb to US$13 trillion by 2030.
As an example, in the healthcare industry, Allied Market Research reports rising demand for data analytics solutions due to the growth in data from electronic health records, among other factors. The global healthcare analytics market was valued at US$16.9 billion in 2017, and the report forecasts it to reach US$67.8 billion by 2025.
The Evolution of AI Maturity
Everyday examples of these solutions range from simple automated dashboards, remote check deposit, Siri-like assistants, ride-sharing apps, Facebook, Instagram, autopilot and autonomous cars.
Tips on Successful Transformation
As a project leader, take these steps to avoid key pitfalls:
Please comment below on what approaches you have taken to enable advanced data analytics in your role or in your organization.
By Cyndee Miller
Going to PMI EMEA Congress is a little bit like going back to school. You pick your sessions, learn a ton and (hopefully) come out with some new ideas on how you want to do things. But sometimes it’s good to be in on the action, too.
I personally was ready to bust out for some real-world adventure, so I headed over to One Microsoft Place. Part of Dublin’s burgeoning tech scene, Microsoft’s European HQ in Leopardstown, Dublin is still relatively new—it only made its grand debut last year. Home to some 2,000 staff members of roughly 70 nationalities, it was specifically designed to be a physical manifestation of the company’s digital transformation. So along with a rooftop garden with some pretty sweet views, the 34,000 square-meter (365,973 square-foot) digs include a “digital lake” comprised of 125,000 LEDs, a DreamSpace for teaching school kids all about tech—and plenty of collaborative spaces aimed at uniting the company under a common vision.
I wasn’t the only one checking out Dublin’s project scene. Some other adventurers headed over to the Royal College of Surgeons in Ireland. That one had to be interesting. I was there last summer to film a video case study about how the 235-year-old school revolutionized its training program—winning a 2018 PMI Award for Project Excellence along the way. Yet another group of congress attendees ventured over to Teeling Distillery to get all the technical details on how the upstart makes a whiskey good enough to take on local stalwarts like Jameson. (Probably best I left that one to others.)
Back at the convention center, my fellow attendees engaged in some more immersive sessions.
Opening keynoter Jamil Qureshi kicked off his interactive workshop with quite the question: If everyone in the world were to suddenly change genders, how would that transform how we act? How we lead? The decisions we make? Would there be more parity for women? Would there be less war? The workshop put into practice one of the key concepts from his Monday presentation: To act differently, you must first think differently.
Mr. Qureshi wasn’t the only one pushing attendees to change the way they think. Karin Hurt and David Dye of Let’s Grow Leaders challenged attendees to root out what incites a fear of speaking up at their organizations. Project managers drew those fears on index cards, then looked for commonalities among their fellow attendees. One thing that doesn’t work? An open-door policy, said Mr. Dye. Instead, leaders should get out there and ask questions—not wait for answers to come to them.
In another workshop, attendees faced a whole other kind of adventure with Mission Possible: Escape from Earth—Agile Edition. Santi Alcaide, PMP, of Play To Growth, and Alfred Maeso Aztarain, PMI-ACP, PMI-PBA, PMP, of Netmind, used the game to spark new ways of leading virtual teams.
And Maria Fafard, PMP, of Capital One introduced role-playing scenarios to teach project professionals how to be better facilitators, especially when conflict or tensions arise. “Before you facilitate any meeting, consider and mitigate any risks that may take your discussion off track,” she said.
The common denominator in all this immersion therapy? Project leaders are faced with a barrage of change, forcing fundamental shifts in how we think, work, play—and lead. How have you changed your leadership style?
By Ramiro Rodrigues
Among consultancies it’s common to reward project teams for good results with financial incentives.
The question is: Does this practice lead to better results? There’s a clear difference in position depending on which side the respondents are on. The dilemma is easy to understand.
When you’re in the position to be rewarded for the results achieved, it’s natural to see the positive side of this approach. But when you are responsible for delivering the bonus, some doubt will naturally exist. After all, what guarantees that this strategy will lead to projects with better results (regarding time, cost or quality)?
Many feel these rewards act as great incentives for project teams, thus leading to better performance. But one should also consider the concerns of those who fear that, in the name of this search for metrics, some values—such as professional ethics, transparency and lawfulness—may be compromised.
To find out if the bonus strategy should be implemented at your organization, have a look at the following four steps:
Step 1: Evaluate your organization's values.
More aggressive companies that encourage internal competition tend to favor this strategy. Knowing your organizational environment well will help you determine whether to adopt the financial incentive strategy or not.
Step 2: Define quality metrics.
Interpreting success only by the results related to project time or costs may lead to short-sightedness regarding customer satisfaction. Therefore, develop templates for satisfaction surveys that can help measure the quality of the delivered product and the opinion of the customer who receives the final result.
Step 3: Encourage mutual collaboration.
Dividing the bonus between specific members or projects creates a great risk of dissatisfaction among those who have been excluded. Thus, sharing the bonus between all team members, depending on the results of the overall project portfolio of the organization, is an interesting idea to consider.
Step 4: Start slowly and measure results.
Treat the implementation of this assessment as a project and aim to progress gradually, so that you can evaluate any impacts of this strategy on the culture and value perception of your company.
Good luck and much success!
By Peter Tarhanidis, MBA, Ph.D.
In project management, your presence as a leader is vital to your success. But how do you begin to refine this skill set? Start by considering what kind of presence you convey, and how that presence impacts your influence with teams.
Underlying a leader’s presence are sets of behaviors and actions directed toward team members in various situations. A leader must distinguish between the two prevailing behavioral approaches. In the task approach, leaders accomplish their goals by setting structures, organizing work, and defining roles and responsibilities. The relationship approach, on the other hand, employs behaviors to help teams feel at ease within a variety of situations.
In other words: Is the leader driven to treat team members as valued individuals and attend to their needs, or do they see team members as a means to achieving a goal? This approach will affect a leader and their team’s performance.
Project managers are constantly combining these two approaches to influence teams and attain a goal. Clearly, there are certain behaviors that emerge in one’s presence which increase one’s influence over teams. Examples include humility, honesty, confidence, composure and emotional intelligence. But the truth is, influencing teams takes a great deal of time and energy. There is only a certain amount of time and energy one dedicates in every moment. For many project managers this creates a challenge: What can a leader do to be present in every moment?
The opportunity does exist for leaders to train themselves to be present. By applying a certain regimen of actions, a leader can apply a thoughtful approach to increasing their presence. Dedicating yourself to increasing your energy and presence will result in positively influencing teams. Below is a list of four actions to help unleash one’s performance through increased energy, focus and presence:
Let me know how you unleash your performance. Please share your top behavior picks, why they define your presence, and how you successfully increased your influence with teams!
by Wanda Curlee
Imagine this: You’re walking in San Francisco, California, USA, when you spot an out-of-control trolley car headed toward a group of five people working on the track. You yell for them to get out of the way, but they don’t hear or see you. You’re standing next to a switch, which would send the trolley on a different track. But there’s one worker on the alternate track who, like the five other workers, doesn’t hear you or see the trolley.
You have a choice: Do you flip the switch? Do you take one life over five?
There is no right or wrong answer. It’s an ethical dilemma.
As project managers, we routinely face dilemmas, although they’re not typically as dramatic as the trolley scenario.
In project management, our answers to ethical dilemmas are typically driven by our moral compass or the company’s statement of ethics. Does that mean we are correct? Correct by whose standards?
The rise of artificial intelligence (AI) could bring new factors into our decision-making process. As project managers, we will use AI to make decisions or assist us with decision making. What the AI tool(s) decide to present can drive our decision making one way or another. What happens if AI presents us information that compromises the safety and efficacy of the projects? What happens if AI makes a decision that seems innocent but has dire consequences based on the logic tree—results that you, as the project manager, might not be visible to?
When revealing an ethical issue in a project management logic tree, it would seem that the decision making should be automatically deferred to the project manager. But whose ethics are used to decide when there is an ethical dilemma? What may seem a common decision to you is an ethical one to someone else.
AI is coming. It most likely will arrive in small bits, but eventually, it will be part of the project management landscape. So take steps to prepare now. Make sure you help with AI decision making when you can; participate in studies and surveys on AI and project management; study ethical dilemmas in project management and understand how the AI tool(s) are coded for ethics.
Be ready because project management is getting ready to change, not by leaps, but by speeding bullets in the near—and not so near—future.