From the course: Project Management Tips
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Using AI for smarter project planning and risk management
From the course: Project Management Tips
Using AI for smarter project planning and risk management
- [Narrator] Every project comes with risks, but, what if you could predict problems before they happen? In this video, we'll look at how AI-powered risk management tools are changing the way that project managers identify, assess, and mitigate uncertainty. AI can improve project risk management by analyzing vast amounts of data to identify hidden threats. Instead of waiting for risks to escalate, AI helps project teams take proactive steps to prevent delays, cost overruns, and failures. This is called risk identification, where AI scans historical project data, real-time metrics, and external factors to detect potential risks. For example, AI can analyze past IT projects and detect that software development delays most often occur in the testing phase. This insight helps managers allocate resources earlier to prevent bottlenecks. Next, we can use AI for risk assessment. Once risks are identified, AI can rank them by likelihood and impact, helping project managers prioritize their…
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