CHAPTER 12Accurate Project Forecasting with ChatGPT

This chapter is an essential guide that shows the application of ChatGPT in project management to improve predictive data analysis, automate forecasting processes, and optimize project planning and execution. It considers the risks of AI for professionals who want to use AI for better decision making, efficiency, and project realization.

The implementation of AI in project management also incorporates human skills. The capacity of AI to advance and promote the principles of project delivery is irrefutable, but certain inherent human qualities of project managers—such as leadership and empathy—are indispensable.

AI deployment involves considerable work, especially when preparing data, which takes almost 80 percent of the time spent on training algorithms (Prof. Antonio Nieto-Rodriguez, 2023).

Predictive Data-Driven Analysis

Project managers can perform predictive analysis on available databases using ChatGPT. Through this analysis, project managers can predict possible future results of their projects, thus giving them reliable grounds for decision making based on identified trends and patterns.

Today, various tools are readily available for non-experts to make model training easier. The team can perform basic predictive analyses using software such as Excel and Google Sheets, and platforms such as Tableau. Google's AutoML and Microsoft's Azure Machine Learning automate many steps of the ML process, making the power of ML ...

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