In this episode of AI-Driven PM, Rick Morris explores the transformative potential of AI in portfolio management, sharing insights from his extensive experience with over 150 implementations of project and portfolio management tools. Departing from the typical format, Rick focuses on the theoretical side of portfolio management and how AI can reshape decision-making in this area.

The episode emphasizes that while many organizations invest in portfolio management tools to address project management issues, they often underestimate the quality of data required. Rick discusses common issues, such as the challenges in defining project scoring and ranking criteria, especially in balancing metrics like ROI, risk, and strategic alignment. He argues that AI can alleviate this by analyzing vast datasets to develop optimized, data-driven criteria and innovative project insights.

Rick highlights specific AI capabilities, such as leveraging historical project data for predictive analytics, which allows for accurate forecasting of ROI and risk. He also introduces the concept of dynamic, ongoing portfolio balancing through simulation models and scenario analysis, made possible by AI’s processing power. Ultimately, he sees AI as a game-changer that enables PMs to refocus on strategic oversight rather than manual data handling.

Rick wraps up by reinforcing that AI won’t replace project managers but will elevate those who know how to harness it effectively. This episode is a compelling vision of how AI can redefine the role of PMOs in strategic alignment and operational efficiency, preparing project managers for a future where AI-driven insights become integral to decision-making.

In this episode of AI-Driven PM, Rick Morris dives into the powerful potential of operationalizing lessons learned in project management using AI. He discusses how most organizations invest countless hours documenting lessons learned, only for them to sit unused in spreadsheets or on SharePoint. Rick shares insights into how AI can transform this valuable, yet often untapped, data into actionable risk assessments and smarter decision-making tools. He also introduces a prototype developed by Centric Consulting that automates the process, pulling insights from historical project documentation to predict risks and optimize future projects. Tune in to explore how AI can truly fulfill the promise of lessons learned and change the way we manage projects.

In this episode of the AI-Driven PM Podcast, host Rick Morris explores how AI can revolutionize project management by enhancing lessons learned, risk assessments, and project scheduling. Rick delves into the importance of maintaining well-structured project schedules and offers practical tips on using AI tools like ChatGPT to analyze project data, identify delays, and uncover valuable insights. Whether you're looking to improve your project outcomes or learn how to use AI for smarter decision-making, this episode provides actionable advice to take your project management skills to the next level. Tune in and start harnessing the power of AI!