Friday, Mar 29 2024 | Time 00:25 Hrs(IST)
image
Business Economy


PMI South Asia Launches Playbook for Project Management in Data Science in Collaboration with NASSCOM

PMI South Asia Launches Playbook for Project Management in Data Science in Collaboration with NASSCOM

Kolkata, Dec 21 (UNI) PMI South Asia unveiled a one of a kind industry report, Playbook

for Project Management in Data Science and Artificial Intelligence Projects at the recently

held Common Ground Symposium.

The playbook is the result of a collaborative effort between PMI South Asia and the Center

of Excellence (COE), Data Science and Artificial Intelligence (DS/AI), of the National

Association of Software and Services Companies (NASSCOM), a premier industry association

in India.

The playbook presents a framework with recommendations on resources that organizations

can use to build capability for DS/AI projects and a best practices toolkit to apply to different

project stages. It seeks to fill a gap in the way DS/AI projects are currently being implemented

by laying down a ‘fit for purpose’ framework that is practitioner-centric and utilizes the collective experience of DS/AI leaders in eminent organizations globally. By utilizing this framework, organizations can derive transformative and accelerated outcomes from their DS/AI projects.

“Leveraging AI has moved well beyond simply automating routine tasks – organizations and

project teams are now utilizing AI to help them navigate unfamiliar environments and make

tough decisions based on adaptive algorithms,” Sunil Prashara, President and CEO, PMI,

said at the virtual launch. “As DS/AI projects continue to infiltrate different industries, this

playbook will be an important tool for the change-makers managing these projects as they

look to maximize the technology’s potential.”

The recommendations and best practices identified in the playbook are gleaned from

surveys and interviews with leaders from 25 organizations (global capability centers, startups,

and service companies) across 10 industries and around the world, a study of relevant case

studies, and secondary research.

Srini Srinivasan, Managing Director, PMI South Asia, added, “The playbook is an attempt to

peer behind the veil of romantic mysticism often associated with AI projects to see how they

work, and what makes them tick. We believe the playbook will help project managers in DS/AI environments embrace a ‘fit for purpose’ framework to achieve value. This framework will serve

as a practical guide to those who aspire to work in, and manage, AI initiatives.”

Numerous studies have pointed to a high failure rate of DS/AI projects and the low or

minimal impact that does not justify the big investments that organizations are setting aside

for AI implementations. PMI South Asia expects the study findings to help project

professionals around the world to unravel the reasons behind poor project performance and

deliver transformative benefits for their organizations.

Commenting on the report Snehanshu Mitra, CEO, Center of Excellence, Data Science & AI, National Association of Software and Services Companies (NASSCOM), said, “As more balanced views emerge on the utopian versus dystopian future of AI, the focus is now shifting to ‘how’ to develop AI solutions. AI projects are significantly cost and time-intensive, and traditional project management frameworks may not be capable of negotiating the complexities of the workflow. Additionally, we need to explore if a uniform framework can guide the development of DS and AI solutions across organizations (service companies, startups, and GCCs) and use cases. This playbook brings to you a unique perspective on emerging project management practices in the

DS and AI space.”

UNI SJC BM

More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image