A Qualitative Study on Artificial Intelligence and Its Impact on the Project Schedule, Cost and Risk Management Knowledge Areas as Presented in PMBOK®

Abstract

The aim of this paper is to study the main areas in which artificial intelligence (AI) will impact the field of project management in relation to cost, risk and scheduling. The research model was based on a previous study of the ten project management knowledge areas presented in PMI’s PMBOK 6th edition, where project schedule, cost and risk management knowledge areas were identified as being the ones most likely to be affected by the development of AI. A group of graduates from a Master of Project Management program were assessed in an online questionnaire, reflecting the PMBOK’s elements of best practices and how AI will affect the project management profession in the future. Different elements of the three knowledge areas were considered to be affected more by AI than others. The schedule baseline is the element believed to be affected the most out of the project schedule management elements. For project cost management, the estimation of resource costs is believed to be affected the most. In the case of project risk management, the application of AI will have the strongest impact on the probability and impact formats.