The distinction can have a significant impact on a team’s morale, project pace, and overall success. Whether you are a seasoned project manager or an aspiring one, it is important to understand this difference, particularly through already established project management principles.

Aligning with APMG

The importance of establishing robust control and monitoring mechanisms from the start of the project is underscored by the APMG framework. This means defining all your key performance indicators (KPIs), implementing regular reporting, and setting clear milestones. This is a proactive approach, taught under the APMG curriculum, and is vital when it comes to mitigating risks and ensuring that corrective actions are taken to prevent minor issues from becoming major ones.

When control goes too far

Unfortunately, the techniques and tools designed for effective monitoring can, when used inappropriately, become instruments of micromanagement. Characterised by excessive scrutiny of individual tasks, a continual need to check, and a lack of trust in the team’s performance, micromanagement can be destructive. Instead of a simple task to track progress, it can erode confidence, stifle autonomy and result in productivity being hindered. Those members of a team who are subjected to micromanagement often feel undervalued, which can decrease motivation, increase stress, and lead to higher turnover rates. 

The question is how project managers can use the principles of the APMG framework to make sure that they can effectively track progress without crossing the line and micromanaging. To achieve this, it is essential to understand not only the intent but also the impact of their actions.

Focus on outcomes, not just activities

The APMG approach emphasises the importance of defining clear deliverables,  with a focus on achieving those outcomes. Effective monitoring should primarily focus on tracking progress against these defined deliverables. There should be an emphasis on making sure that you are on track to deliver by agreed deadlines and that the quality of the deliverables meets the expected standards.

Micromanagement is often fixated on the minute details of each individual task and how it is being performed. It requires continually asking for updates on even the smallest steps, dictating particular methods, and scrutinising execution over results. This is not only a waste of valuable time but also indicates a lack of confidence in the team’s professional capabilities. The APMG framework encourages and empowers team members to find the most effective way of achieving assigned tasks, while fostering a sense of accountability and ownership.

Establish clear expectations – empower your team

A foundation of effective project management is the need for clear communication and well-defined roles and responsibilities. If team members understand what is required of them, any timelines they must adhere to, and the quality standards they should meet, then there is a higher chance they will take ownership of their work. This understanding reduces the necessity for constant oversight.

Micromanagement is often the result of a lack of trust or fear of losing control. When expectations are clearly defined, this provides the necessary support and resources. This empowers a team to manage their own workload within those limits. Project managers can then adopt an environment that is more autonomous and productive. The APMG principles recommend the need to delegate and trust as part of effective team management.

Implement transparent and regular reporting

The APMG framework emphasises the importance of creating regular and transparent reporting mechanisms. This might involve weekly progress meetings, milestone reviews, or using project management software in order to track progress against a schedule. Structured reporting processes, such as these, give a project manager the necessary visibility into the project’s status without the need for continual, ad-hoc check-ins.

Micromanagement, all too often, occurs as frequent, unscheduled interruptions which demands immediate updates. This can disrupt the workflow of the team and indicates a lack of faith in any ability they may have to manage both time and tasks effectively. When you commit to a pre-defined reporting schedule, it is possible to gather any necessary information whilst still respecting the focus and productivity of the team.

Focus on early warning signs and address issues collaboratively

Within the APMG context, effective monitoring is taught as a way of identifying potential problems early and then addressing them collaboratively. When we focus on leading indicators and analysing trends, it is possible to track progress effectively, intervene proactively and prevent minor issues from becoming critical ones. This approach fosters a culture of continuous improvement and greater shared responsibility.

Micromanagement, on the other hand, all too often emphasises the identification and criticising of individual mistakes after they have occurred. Thus, a blame culture is created, which can discourage team members from taking risks or admitting to challenges. The APMG framework suggests a collaborative problem-solving approach, where the focus is on finding solutions together rather than the more toxic trait of assigning blame.

Trust your team’s expertise

One of the fundamental principles of effective project management is recognising and leveraging the range of expertise within a team. Individuals in a project team are often selected for their unique skills and experience. Micromanaging their work will not only undermine their confidence; it can also prevent the project from benefiting from the unique insights and approaches that each team member brings to the table.

The APMG qualification places emphasis on the importance of building a team that is not only competent but motivated as well. Trusting in the abilities of the team and allowing them the autonomy to leverage their expertise is vital when it comes to fostering innovation and achieving optimal results. Project managers need to act as facilitators and guides, simply providing support and direction whilst allowing their team to execute the work.

To sum up

The APMG Project Planning, Scheduling, Monitoring and Control framework offers a robust set of principles and techniques designed to keep projects on track. Effective monitoring is a core component of this framework, essential for identifying mistakes and taking corrective action. Project managers, however, need to be vigilant when ensuring their efforts at monitoring do not devolve into micromanagement. This means focusing on outcomes, ensuring clear expectations, implementing transparent reporting, and addressing issues in a collaborative manner. Above all however it is about trusting the expertise of the team. That way, you can ensure a happy, motivated team and a desired outcome for the project.

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Defining Stakeholders and Their Influence

To grasp the significance of clear communication, it is essential first to understand what stakeholders are and how they impact a project. Stakeholders can be defined as individuals or groups who have an interest in the outcome of a project. This may include clients, team members, executives, suppliers, investors, and the community. Each stakeholder has interests, expectations, and potential influence over the project’s direction.

Recognising these diverse perspectives is vital. For instance, clients may focus on outcomes and budget adherence, while team members might be concerned with their roles. Executives often prioritise strategic alignment and return on investment. Understanding these varying interests allows project managers to tailor their communication strategies effectively.

Importance of Stakeholder Engagement

Stakeholder engagement is essential for project success. By fostering robust relationships, project managers can better understand the needs and expectations of key individuals, leading to informed decisions that align with broader objectives. Engaging stakeholders ensures their concerns are addressed proactively, preventing larger issues.

Clear communication plays a pivotal role in engagement. When kept informed, stakeholders feel involved and valued, fostering trust and encouraging collaboration. To keep stakeholders informed, leaders should establish regular communication channels through meetings, updates, or reports.

Utilising stakeholder mapping can provide insights into the dynamics of these relationships, allowing for tailored communication strategies. By identifying key stakeholders and their specific interests, project managers can prioritise outreach efforts, ensuring that critical voices are heard. Participation in an assertiveness skills course can equip professionals with the confidence to engage stakeholders and communicate project needs effectively.

Key Communication Strategies

Several communication strategies can be employed to enhance stakeholder management. One of the first steps is understanding each stakeholder group’s specific needs and preferences. This understanding helps in customising communication methods—whether through emails, presentations, or discussions—to improve engagement.

Active Listening

Active listening is an essential component of effective communication. It requires fully engaging with the speaker to understand their perspective. Project managers can adjust their strategies by genuinely considering stakeholder feedback and demonstrating that their opinions matter.

This practice builds rapport and strengthens relationships. When stakeholders feel heard, they are more likely to share their insights and collaborate on solutions. Effective leaders often summarise discussions to confirm understanding, further solidifying trust.

Transparency

Establishing a transparent communication framework is vital for stakeholder management. Clearly defined processes for sharing information, such as progress reports or updates, help ensure stakeholders are informed of critical developments. Transparency builds credibility and fosters a culture of openness.

Regular meetings can serve as checkpoints for discussing progress and addressing concerns. Keeping stakeholders informed about changes ensures they feel like they are part of the process, likely increasing their support for decisions made.

Adaptability in Communication

Flexibility in communication style is crucial. Different stakeholders may have varying preferences for how they receive information. Some might prefer detailed reports, while others might favour concise summaries. Being adaptable to these preferences can improve the effectiveness of communication efforts.

Visual aids can significantly enhance understanding, especially for complex information. Using charts or infographics can make it easier for stakeholders to grasp key points quickly. Adaptation ensures that messages are received as intended.

Overcoming Communication Barriers

Communication barriers can arise in various forms, from cultural differences to varying levels of understanding among stakeholders. Recognising and addressing these barriers is crucial for maintaining effective stakeholder management.

Cultural Sensitivity

Cultural differences can significantly impact communication styles. What may be considered direct in one culture might be perceived as rude in another. Understanding these nuances is essential when engaging with stakeholders from diverse backgrounds.

Project managers should educate themselves about the cultural contexts of their stakeholders. This awareness can lead to more effective interactions and help avoid misunderstandings. Approaching communication with respect and a genuine interest in diverse perspectives enhances rapport.

Avoiding Jargon

Jargon or technical language may not resonate with all stakeholders. Simplifying language and using clear terms can bridge gaps in understanding. It’s beneficial to consider your audience’s familiarity with industry-specific terminology. By avoiding overly technical language, project managers can ensure that all stakeholders comprehend the information presented.

Additionally, providing context when discussing complex concepts can help stakeholders understand the rationale behind decisions. This aids comprehension and encourages informed discussions about the project’s direction.

Fostering Open Communication

Fostering an environment that encourages open communication can mitigate misunderstandings. Creating spaces for feedback, whether through surveys or discussions, allows stakeholders to voice their thoughts and concerns. This proactive approach builds trust and facilitates continuous improvement in communication strategies.

Encouraging stakeholders to share their opinions without fear of judgement creates a culture of transparency. Facilitating discussions that invite different perspectives can lead to innovative solutions.

Continuous Improvement in Communication

Effective communication is not a static process; it requires ongoing evaluation and improvement. After significant meetings or milestones, soliciting feedback from stakeholders about the clarity and effectiveness of communication can provide valuable insights.

Learning from Feedback

Learning from feedback allows project managers to refine their communication strategies continually. By analysing what worked and what didn’t, they can adapt their approaches for future interactions. This iterative process fosters a culture of continuous improvement.

Documenting lessons learned can serve as a resource for future projects, guiding team members on best practices in stakeholder communication. This commitment to learning demonstrates a dedication to enhancing stakeholder relationships and project outcomes.

Training and Development

Investing in training focused on communication skills can further enhance stakeholder management. Workshops that emphasise active listening, conflict resolution, and negotiation can equip team members with the skills to engage effectively.

Encouraging team members to participate in professional development opportunities reinforces the importance of communication in stakeholder management. This investment contributes to individual growth and strengthens overall team capabilities.

Measuring Communication Effectiveness

Establishing metrics for measuring effectiveness is crucial to ensure that communication strategies achieve desired outcomes. This can involve evaluating the quality of stakeholder interactions and overall satisfaction with the communication process.

Setting Goals

Setting clear communication goals at the outset of a project can help guide efforts. These goals should align with the project’s objectives and stakeholder expectations. By tracking progress against these goals, project managers can identify areas where communication may need adjustment.

For instance, if a goal is to improve stakeholder response times to updates, analysing response trends can provide insights into whether the communication methods are effective or need adjustments.

Conducting Surveys

Surveys or feedback sessions with stakeholders can provide valuable feedback regarding communication effectiveness. This approach allows stakeholders to share their perspectives on what they appreciate and what might need improvement.

Incorporating this feedback into future communication efforts shows stakeholders that their input is valued and taken seriously, further strengthening relationships.

By embracing these practices and maintaining a commitment to clear communication, professionals can ensure that stakeholder management is effective and enhances collaboration and project success. Clear communication is the foundation for fostering strong relationships, addressing concerns, and achieving project objectives.

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Seven in 10 project managers have benefited from the implementation of artificial intelligence, finds latest APM survey

Artificial intelligence is improving outcomes for the majority of project managers, a new survey by the Association for Project Management (APM), the chartered membership body for the project profession has found.

Seven in 10 project managers have integrated AI into their everyday processes with the same proportion saying it is improving the outcome of their projects.

The survey of 1,000 project professionals, carried out by national research company Censuswide, demonstrates the growing benefits of AI adoption in the project profession. Adoption of AI tools has been seen across all sectors, with the manufacturing sector leading the way with 78% of project managers stating AI has been integrated into project management processes at their organisation. This is closely followed by Financial Services seeing a 77% adoption rate, and Aerospace & Defence and Healthcare & Pharmaceuticals both at 75%.

Professor Adam Boddison OBE, Chief Executive of APM, said: “AI is a hot topic in all industries, sectors, and professions. This research goes to show the project profession is a leader when it comes to using AI for positive change. The emerging technology is already having a significant impact on projects, and we expect this to continue for the foreseeable future.

“Furthermore, following Kier Starmer’s promise to fast-track decisions on major infrastructure projects, the use of AI throughout this could be essential. The implementation of AI provides the opportunity to significantly improve the prospects of projects of all scopes and scales being delivered on time, to cost, and to quality.”

Survey respondents identified specific areas where AI tools have even greater potential to enhance project management outcomes. Performance analysis emerged as the top area for improvement potential, cited by 28% of respondents. This was followed by data analysis at 26%, and administration tasks, such as form-filling and record-keeping, at 25%.

The findings demonstrate that AI is proving particularly valuable in streamlining time-consuming manual tasks, enhancing the accuracy of data analysis, and providing project managers with the insights needed to support strategic decision-making processes.

Professor Adam Boddison OBE continued: “By automating manual processes and enhancing analytical capabilities, AI can help organisations deliver projects more efficiently and effectively.

“However, as adoption increases, it’s important that project professionals take the lead in ensuring AI tools are used responsibly and ethically. By doing so, we can unlock even greater potential for AI to support project delivery across all sectors.”

Case Study: Network Rail’s data-first strategy for AI adoption

Network Rail’s Wales and Western region delivers large-scale infrastructure projects worth £1 billion annually.

Recognising the challenge of managing vast amounts of project data, the team implemented a transformative data-first approach. By centralising project data from multiple platforms and leveraging tools like PowerBI and SharePoint, they developed intuitive dashboards and automated reporting systems.

This strategy not only improved data accessibility and accuracy but also enhanced decision-making and project efficiency. A rapid roll-out across the region enabled significant cost savings, faster reporting and reduced manual errors.

Over three months, sustained training and iterative updates ensured widespread adoption. The resulting systems recorded over 60,000 user interactions in 90 days, demonstrating robust engagement.

Network Rail’s success showcases the potential of combining innovative tools with strategic planning to harness AI effectively in project management

Case Study: predicting project outcomes with MIGSO | PCUBED’s AI Capability

MIGSO-PCUBED, a leading global consultancy in project, programme, and change management, developed its Intelligent Project Prediction (IPP) platform to transform how organisations forecast project outcomes.

Using advanced AI and machine learning, IPP identifies potential risks and performance issues early in the project lifecycle. By analysing historical project data and generating predictive insights, the tool allows project managers to proactively address challenges, optimise resources and improve overall efficiency.

The implementation of IPP represents a significant step in leveraging AI to enhance decision-making and foster greater project success. This innovation aligns with MIGSO-PCUBED’s commitment to digital transformation, demonstrating how AI-driven solutions can support more informed, agile and strategic project management approaches.

The initiative underscores the transformative impact of AI when combined with traditional project management expertise.

As organisations continue to embrace AI, the project profession has an opportunity to shape how these tools are utilised to deliver long-term value. This includes addressing potential risks, ensuring effective training for project professionals, and maximising AI’s ability to drive innovation and tackle existing challenges, such as the industry-wide skills gap.

To learn more about APM, visit www.apm.org.uk.

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What is project-based learning?

Sometimes referred to as PBL, project-based learning is the idea of learning whilst doing. It allows learners the chance to develop a deeper understanding of a topic through the concept of problem-solving, using real-world challenges and examples.

There is one big difference between PBL and other forms of projects, and this is that it is used to train a whole unit as opposed to just one part of it. PBL is a form of constructivist learning theory that is put into practice, and, unlike other forms of training where the trainer lectures on the topic, it is up to the trainees to take on the role of directing their own learning.

Project-based learning ideas to consider in your training

It is important to keep the seven steps of a successful project in mind:

1. Pose a problem that is challenging – the instructor role is essential here, and how you pose a problem matters in order to encourage enquiry.

2. Implement a sustained enquiry – give your project team the chance to look for solutions to the problem, this might include doing some research online or even looking at case studies. They could also talk to co-workers.

3. Encourage authenticity – they should consider the question in terms of real world problems, ie how might it impact their workplace on a daily basis.

4. Learner voice and choices – your project team should be given as much freedom as possible. When they have more guidelines, they have less to think about. Let them define the process, the content and then the final product where possible.

5. Reflection – it is important to take the opportunity to reflect on anything that has come up during the project. This might include any obstacles and any strategies that may be needed in order to overcome them. These are things that can either be discussed face-to-face or through any other means that may seem appropriate.

6. Critique and revision – in PBL, feedback is critical. It is important for the project manager to guide their team and offer any thoughts on the direction that things may need to take. It is important to consider what can be learnt from the project. Any feedback should be followed by a period of time given over to revision and during this time amendments and possible improvements should also be made based on any feedback.

7. Present the findings – the final step involves each project team being given the opportunity to discuss their findings. Often, a project team may come up with a solution to a real problem that is workable and may be worthy of serious consideration.

The challenges of PBL

PBL can be time consuming, and it may be that learners need a little more time to be guided through the process than you might need if you were presenting materials in a more traditional manner for a formal project management certification.

It is a type of learning that is not suited to everyone so it is important to make sure that everyone has their say, in some instances you may find that you need to blend PBL with other types of learning to provide a fuller learning experience.

The post Upskilling Your Workforce via Project-Based Training Initiatives appeared first on Project Accelerator News.

What is the gig economy?

Typically, the gig economy replaces the conventional 9 to 5 employment model, giving way to freelance work, independent contractors and short term contracts. Many believe it is fuelled from a combination of technological advancements and the desire for a better work life balance.

While this is achievable, it takes time and effort to ensure you can cope with the challenges within the gig economy.

Challenges for project managers in the gig economy

There are a variety of unique challenges to this type of work model, which include:

Communication challenges – Often, project managers working within the gig economy must handle teams that are based in different time zones. Knowing how to handle this properly will help avoid misunderstandings, miscommunications and delays.

Coordinating challenges – Being able to manage a team with diverse skills and array of different working times can be a logistical nightmare if not handled properly.

Team cohesion challenges- Fostering a culture of collaboration and teamwork can be difficult when freelancers have not met, and are not tied into a long-term commitment.

Quality and consistency challenges – if deliverables are not clearly defined, and freelancers are not effectively on-boarded, the output may not be up to standard.

Legal challenges – Working with freelancers across borders may come with legal and financial challenges, and understanding regulations in a variety of different countries can be tricky.

Skills to work on for project managers working in the gig economy

As well as completing PM courses, which will give you the foundation for success as a project manager, there are also some soft skills that you must draw upon to ensure that you are able to operate in this dynamic environment.

1. Flexibility- In an environment that is ever changing, project managers must be adaptable to cope with new technology, a diverse set of team members, and new situations.
2. Technological know-how- By mastering a variety of different types of project management software, as well as communication platforms you will be able to easily allocate tasks progress and streamline communication.
3. Communication skills – It is more vital than ever that you are able to communicate with a variety of people from all walks of life and across borders. it will be necessary for you to articulate expectations clearly and provide regular feedback to team members. Listening is also a big part of communication, and it is vital that you understand your team members and their unique skills and situations to enable you to work better with them.
4. Cultural intelligence- Some knowledge and understanding of different cultures will really help you to work better with team members from a variety of different countries. Respecting cultural differences even if you do not understand them is vital in building a cohesive team.
5. Conflict resolution – Not every project will run smoothly and you will need to be able to manage conflicts that you may not come across by working with teams in person.
6. Negotiation – With stakeholders and team members based elsewhere, face-to-face meetings may not always be possible, and you will need to use your negotiation skills in all correspondence as well as in virtual meetings.

Tips to help you succeed

There are various strategies and tools that you can draw upon to be a successful project manager in the gig economy. Some of these include:

Technology

Project management technology allows you to centralise your communication with team members and stakeholders alike. Choosing the right platform can mean the difference between well organised successful projects and a scattered project that is hard to keep track of. Trello, Monday and Asana are great choices, but there are also new disruptors such as Motion, Hive and Teamwork that gig economy project managers could explore.

Networking

Building a network with others in the gig economy such as freelancers, other project managers and creatives can give you a network to draw upon if you run into problems. Social media can be useful for this but there are also specific platforms through which you can find people working in the gig economy, such as Lunchclub and Indie Hackers.

Community building

There are plenty of platforms for you to help foster a sense of belonging with team members no matter where they are based. You can opt for virtual coffee mornings, team building activities online or you can share project software such as online whiteboards to help build collaboration between your team.

Up-to-date industry knowledge

It’s vital to keep up-to-date with any trends in project management in the gig economy so that you can draw upon new innovations to better manage your project team.

Is there a future for project management in the gig economy?

There is no doubt that the gig economy is transforming the way we work, and it looks very much like it is here to stay. Due to many businesses’ desire to embrace flexible working models, a project manager who can adapt to work in the gig economy will be in high demand. By using the tools and strategies above, collaboration, cohesion and organisation can be made easier, no matter where in the world your team and stakeholders are based.

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What is the purpose of a post-project review?

The main purpose of the post-project review is to analyse the processes used during a project. Those things that went well can be used to help with future projects whilst those things that didn’t go well are worthy of a closer look in order to determine how they could be improved for future projects. It can be used in the following ways:

·       Find the most effective processes which can be used for future projects

·       Find areas for improvement through the analysis of challenging steps and areas to see where improvements can be made for future projects

·       Identify individual accomplishments and strengths so that the project manager can highlight these in order to celebrate with the team

How should you prepare for your post-project review?

It is important to consider the following when you prepare for your post-project review:

·       Select a facilitator –Whilst there is no reason a project manager cannot complete the post-project review, facilitators not associated with the project may give more objective feedback.

·       Create a trusting and transparent environment – You need to make sure you are gathering accurate and honest information from your team. It is important to explain the evaluation process to your team to help them feel more comfortable.

·       Think about having a post-project meeting – A closure meeting can be a good idea to allow people to share their thoughts and feedback on the project.

What should you include in a post-project review?

Experts such as those at Parallel Project Training believe that it is sometimes a good idea to customise the elements that you have in your post-project review. This will help you to better meet the needs of your project and organisation. In general, a good project review will include:

·       The name of the project and summary

·       Details of team members including their contact details – this will help you get in touch if you have more questions, or if you want to give specific feedback to one team member

·       The expected outcomes and the actual outcomes – you should have a list of the planned outcomes and objectives and a comparison to the actual outcomes. A brief summary is also helpful

·       Transition notes – these will detail how you moved the project to the next stage (in industries where a project moves from one team to another this can be a very important step).

·       Project expenses – you should compare the expenses you planned for against the actual costs of the project.

·       Project milestones and schedule – you can list all the planned milestones of your project and their completion dates, alongside the actual completion dates.

·       Recommendations – this section is important; you can list any recommendations that there might be for future projects and for the company. There may also be areas in future projects that you may want to change.

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Why do projects fail?

The experts at Parallel Project Training  believe that to better understand how to deal with failure in a project it is important to know why projects fail. And then to take that knowledge forward to other projects to make continuous improvements. It is estimated that only around 30% of projects are actually fully successful. That is a surprisingly low percentage but doesn’t analyse the types of projects more likely to fail nor the expertise of the project managers running the successful or failed projects. Project managers who have gained a recognised project management certification from The Project Management Institute or The Association for Project Management are much more likely to have the skills to learn lessons from past failures.

There are a number of reasons that a project may fail. It could be over budget, take a lot longer to complete than originally anticipated or simply not be able to deliver the desired outcome. To a certain extent each of these constitutes a failure from a project. Of course, if all of these happen then it is certainly a failure on every level.

It could be over budget because the cost of some of the required resources go up in price, affecting the overall budget of the project. This could be a particular problem if the budget was tight to begin with. It could fail to meet its desired time scale because the workload has been underestimated, or because there were not enough team members to complete the work.

Take on feedback

Feedback can be useful both as a way of seeing what you are doing well and also what isn’t going well. It can help to pinpoint issues as they arise and help to move a project back on course if possible before it becomes a complete failure. Ignoring feedback that points out issues and taking it as a personal attack rather than constructively can often damage a project even further.

Getting your project team together when something isn’t going well and working to find a solution by letting everyone have their voice means that you will avail your project to as much feedback as possible. This could help you to avoid failure. Never assume that newer members of your team may not be able to come up with clever solutions to any problems that present themselves. Every voice in your team matters and every team member should feel valued enough to give their opinions and be heard.

Some reasons you might fail

The best way to learn about project failures and to improve your success rate is from other project managers and experience. It is important to ensure that you have a “why” that is big enough in your project, this is the reason for your project.

Before you start to consider how the project might fail. This will help you to put measures in place to ensure that those failures do not happen. Keep your project plans moving forwards with purpose and passion and remember that even a failure can be a learning opportunity.

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What AI does lack is the ability, however, to use human discernment and wisdom, and this means that some level of human interaction is still needed. What AI can certainly achieve is to work alongside humans in streamlining, processing, and promoting the effective use of data.

The importance of AI when it comes to decision making

Opinions differ, of course, but many experts believe that when it comes to any data-driven decision making, AI can play a significant role. It offers benefits including:

• Enhanced accuracy – AI uses advanced algorithms, data science and analysis to give accurate and objective insights time and time again, which can help to reduce the possibility of human error and bias occurring.
• Faster decision making – AI can process significant amounts of data very fast. This means quick analysis and insights that are generated in real-time. This ultimately produces a much more efficient decision making process, particularly when there is a possibility to add automation at certain points in the process.
• Improved efficiency – AI automates those tasks that are time-consuming and repetitive. This frees up valuable human resources so that they can focus on the more complex and strategic aspects of the project
• Better risk assessment and mitigation – AI can assess and then analyse a range of risk factors, aid decision makers in identifying possible risks, and also devise mitigation strategies that are effective
• Data-driven insights – AI leverages significantly large volumes of data to find patterns, trends, and correlations that may not always be noticed by humans. Understanding data can be a complex issue, but this can be simplified by using AI

How can AI be used in decision making?

There are a range of ways in which AI can be used in decision making. These include:

• Predictive analytics – it is used to analyse historical data before identifying patterns and then making accurate predictions
• Risk assessment and mitigation – careful planning and time is needed for risk assessment, and effective risk management needs proper data analysis. AI algorithms can be used to help with both of these. AI can look at a significantly larger range of data and not just that which is more readily available to make decisions.
• Natural language processing (NLP) – this is a computer’s ability to analyse automatically and also process any language in a conventional manner. Chatbots use NLP to look at human prompts and questions in order to create responses. This can ultimately help to facilitate processes around decision making.
• Decision support systems – decision support systems powered by AI can help decision makers by giving them appropriate information, analysing data and empowering them to make better decisions.

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In order to ensure maximum social impact whilst also creating meaningful change, it is important to think about the tools that are used to do this. These might include attending training for project managers such as APM PPQ, PMI or PRINCE,2 using appropriate project management software and data analytics tools.

What is project management in non-profits?

Project management for non-profits is the planning organising, and managing of resources in order to accomplish set goals. In this regard, it is a critical process that not only allows for engagement with a range of stakeholders but also assists in reaching social objectives. Its main goal is to make sure that a project team completes a project to the appropriate standard and within budget. This means considering project scope developing plans finding the resources, and considering the project outcome -in fact, all of the same standard project management processes you might expect to find elsewhere. Where this differs is that within the non-profit sector, there are often rather unique constraints, for example, limited numbers of staff, including volunteers, and perhaps more importantly, a limited budget. This can often mean that a greater degree of resourcefulness and creativity is required.

Take as an example the not-for-profit organisation The Live-in Care Hub. Their mission is to raise awareness of options for better social care in the UK. They have the typical constraints of a limited number of staff and other resources, including budget. However, by collaborating with other organisations with similar aims they have been able to deliver on their objectives. One way they did this was to commission a report using published data and proprietary research from the world-renowned Personal Social Services Research Unit (PSSRU), a collaboration between the London School of Economics and the University of Kent.

What should you know about non-profit project management?

There are a number of challenges that any non-profit will find themselves facing  at some point. These include:

• Working under unique constraints – limited budgets, staffing levels and limits of some resources.
• Poor team collaboration – work is often undertaken with other organisations to complete a project and effective project management is required to achieve this.
• Not engaging effectively with stakeholders – non-profits have a range of stakeholders, and it is important to engage with them all throughout the project.
• Evaluation and monitoring is unproductive – a non-profit needs to show their impact and accountability to stakeholders. Evaluation and monitoring are essential for communicating and measuring project outcomes.
• Lack of organisation and retention in the team – a volunteer-based workforce is a complex one and brings plenty of challenges – schedules, skills sets and motivations, with not everyone being available when needed. There is often higher staff turnover as a result of the number of volunteers and this makes the team dynamic tricky.
• Operating within changing circumstances – dynamic and sometimes unpredictable environments are often what a non-profit finds themselves working in. In the non-profit sector, it is important for project management to be adaptable to any changing circumstances. Highly experienced project managers with the expertise and qualifications will more effectively be able to manage this.

Project management tools in non-profits

The right tools can make all the difference in project management and never more so than in a non-profit. It can help to provide a range of solutions, including, better resource management, effective collaboration, keeping stakeholders up to date, measuring results and communicating impact, enhancing project planning and also streamlining workflows.

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Project manager courses such as APM PMQ, PMI or PRINCE2 can help to build up the relevant skillsets that will help to offer support when these technologies fall short. It will also act as a complement to AI practices; both are likely to be dependent on each other. AI removes the requirement for the monotony of everyday tasks like data analysis, and reporting helps free up the project manager to drive projects and make important key leadership decisions

There are four main areas where AI can be of particular benefit when it comes to project management in the financial services industry:

Informed decision making

Data analytics has a power that allows for the coding of algorithms that depict trends and draw attention to crucial information. This then automatically and in real time alerts the project manager to take a look at any red flags chest any necessary corrective action.

Resource management

tight schedules and budgets can often bring about the need to manage resources actively in order to get a job done on budget and on time whilst remaining within scope. AI house the capacity to track this and also suggest the appropriate mix of resources that will effectively deliver a project whilst also monitoring conflicts that occur within the schedule. It recognises top contributors and captures key performance indicators.

Automation for repetitive tasks

The list of jobs that a project manager has may appear endless however the use of AI will allow them to concentrate their focus on refining the strategic plans and directing execution. Reporting scheduling of meetings and some forms of communication are all tasks that can be automated through the use of a virtual assistant.

Access to information in real-time

The technologies of today and their applications help project managers in any field to consider things like portfolios, projects and programmes whilst offering them the information that they need through smartphones. This flexible approach helps with multitasking and being more productive whilst being mobile.

How is this useful in the financial services industry?

Within the financial services industry, AI has digitised and automated many tasks. This offers an enhanced experience for customers through the use of personalised services like robotic process automation, voice learning, and even the use of chatbots. Banks, in particular, depend heavily on predictive analytics and programmed engines when it comes to monitoring the back office activities and compliance whilst still ensuring they provide security to their customers and assurance over their finances

It is necessary to have a culture of lifelong learning and adaptability moving forward with project management roles. Collaboration with AI is increasingly becoming the norm. Whilst it makes life easier, there is still a great demand for the human touch in order to successfully deliver on every front. Therefore project managers with the right skills and qualifications will still be very much in demand.

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