AI-Driven Project Management Sees 90% Positive ROI Among Users

July 08, 2024 at 08:00 AM EDT

According to Capterra’s Most Impactful PM Tools Survey, 63% of project managers report increased productivity and efficiency with AI integration, and 36% plan on increased investment by 2025.

Artificial Intelligence (AI) in project management is delivering substantial benefits and encouraging further investments, according to Capterra’s Most Impactful PM Tools Survey. As part of a comprehensive study of 2,500 global project managers, the report focuses on insights from the 46% currently using AI in their project management tools, leading to notable improvements in productivity, efficiency, and risk mitigation.

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AI adoption in project management is proving fruitful, with 90% of project managers reporting a positive ROI from their AI tools over the past year. This success is fostering increased confidence in AI technologies, prompting project managers to plan for an average increase of 36% in AI investments by 2025.

Mitigate risks proactively to ensure project success

AI tools are being used by 54% of project managers to predict potential project risks and suggest mitigation strategies. For example, AI can analyze historical data to identify variables that have previously delivered late or over budget, enabling project managers to adjust their plans proactively and in real time.

Boost productivity and efficiency through automation

Nearly all (94%) of surveyed PMs feel confident in their ability to lead AI-implementation projects. By handling repetitive tasks like status updates and reporting, AI allows project managers to focus on strategic decision-making and stakeholder engagement. This automation is a key factor in the reported increases in productivity and efficiency, with 63% of PMs highlighting these improvements as top benefits of AI.

Leverage predictive analytics for better planning

AI-driven predictive analytics help project managers design project plans and anticipate potential issues before they arise, for example, AI can forecast price increases in key materials, allowing construction managers to plan contingencies and adjust budgets accordingly.

“Project managers are seeing significant returns from their AI investments, particularly in risk management, task automation, and predictive analytics,” says Olivia Montgomery, associate principal analyst at Capterra. “These tools are empowering project managers to tackle complex challenges more effectively.”

Enhance confidence and identify training needs

Project managers are increasingly comfortable delegating tasks to AI, with 88% expressing confidence in the technology’s capabilities. This comfort level allows project managers to focus on more critical aspects of their projects. However, the survey also reveals a need for education and training around AI.

As AI technologies continue to proliferate, project managers anticipate further advancements in task automation, predictive analytics, and project planning over the next 12 months. By focusing on these areas, businesses can empower project managers to deliver projects more successfully and drive organizational growth.

For more detailed insights and recommendations, read the full report on Capterra.

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