How we partnered with SmartProjects to enhance project estimation accuracy using AI in a 6-week product discovery phase.
Enterprise project estimation is characterized by complex variables and critical resource allocation, which often leads to imprecise cost, timeline, and resource predictions. To address these challenges, an AI-powered tool, SmartProjects, was designed through a collaborative and methodical approach, involving extensive client engagement and iterative workshops.
Estimating a project from the enterprise perspective can be a formidable task due to several key challenges. First and foremost, enterprise-level projects often exhibit a high degree of complexity where countless variables and unforeseen challenges can emerge. As a result, it’s always a challenge to predict project costs, timelines, and resource requirements with precision.
When it comes to resource allocation it’s another critical yet challenging aspect of project estimation, where assigning the right personnel, technology, and resources is paramount for success, however faces a lot of human error.
An AI-powered estimation tool could effectively tackle the challenges associated with project estimation from an enterprise perspective through its advanced capabilities. Such a solution would leverage data-driven estimation to identify patterns, benchmarks, and trends, as well as use predictive analytics to anticipate potential risks and uncertainties. As a result, the client would have enhanced accuracy and adaptability in the estimation process.
We designed an AI-powered estimation tool for enterprise project management through product discovery workshops with a methodical process. We began with an initial needs assessment to understand the client's specific requirements and challenges. Subsequently, the client's involvement as a stakeholder was crucial, inviting representatives from various departments for a holistic perspective.
During the workshops, we used a lean approach, a lot of brainstorming with the client and the team, using Miro boards, mind mapping, building application and process workflows and implementations roadmaps. As a result, we delved into the intricacies of enterprise projects, exploring their complexities, changing requirements, and resource allocation issues. In tandem with the client, the project goals were meticulously defined, ensuring a clear understanding of what the AI-powered tool should achieve.
To meet user requirements, a separate workshop was conducted to identify the needs of project managers, stakeholders, and end-users. The technology aspect was explored in detail through feasibility checking risks, showcasing AI capabilities such as machine learning, predictive analytics, and real-time data integration, shedding light on the potential application of these technologies in the client's specific context. The last phases of prototyping and iteration involved developing a clickable prototype of the tool, gathering client feedback, and refining the design in the Agile process.
This approach helped us adjust the prototype of the application to capture all the customer needs even when these were evolving on the go.
As an outcome of workshops with the client we designed SmartProjects – an AI-powered estimation tool which represents a transformative solution for organizations facing the intricate challenges of enterprise project estimation. Harnessing the capabilities of advanced artificial intelligence, the tool will offer a data-driven, proactive, and adaptable approach to estimating project costs, timelines, and resource requirements. By analyzing extensive historical data, predicting potential risks, and continuously integrating real-time information, the tool will ensure that estimates remain precise and up-to-date.
This innovative technology like Big Data machine learning mechanism could empower enterprises to make informed decisions, mitigate risks, and collaborate effectively across project teams and stakeholders. Moreover, it could pave the way for improved project success by offering benchmarking against industry standards and best practices, fostering an agile and responsive approach to project planning and execution. In the realm of enterprise project estimation, an AI-powered tool like this, emerges as a valuable asset, ensuring organizations can meet their objectives while adapting to the dynamic and complex nature of their projects.
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