FOMO Should Not Be a Metric of Your AI Project

In this episode, Ricardo talks about findings from the "Stanford University AI Index Report," which emphasizes the advantages that industry has over academia in AI research, the efficacy of AI in specific activities, and the high expense of creating sophisticated models. Although regulation is still in its infancy, the US leads the way. While AI boosts efficiency, it can also lead to reliance. Artificial Intelligence accelerates scientific development while raising knowledge and concerns about its effects. Using ChatGPT, Ricardo examines the lengthy report and emphasizes how helpful it is for comprehending AI trends. The report provides insightful information and is free. Listen to the podcast to know more. You can access the report at this link: https://aiindex.stanford.edu/report/

In this episode, Ricardo talks about the importance of soft skills in project management, noting their relevance since the inception of the PMBOK guide in 1996. The 7th edition introduces a principles-based approach, diverging from the process-based structure of the 6th edition. This change facilitates a holistic understanding, which is particularly beneficial to those preparing for PMP and CAPM certification. Ricardo highlights that soft skills, such as leadership and adaptability, are deeply rooted in human behavior and essential for the success of the project. He encourages listeners to recognize that the PMBOK guide is not the only repository of project management knowledge, advocating a comprehensive understanding beyond exam requirements. Listen to the podcast to know more.

In this episode, Ricardo talks about "management by exception" in PRINCE2 methodology, which encourages communication and action only in exceptional cases, saving time on routine updates. As an example, meetings are only called when there is a significant delay, a cost overrun, or a risk that is about to happen. Teams can focus on project work when communication is streamlined. Ricardo accentuates project success over meticulous management processes. "Management by exception" can be used with both Agile and waterfall methods, which makes project discussion more efficient. Ricardo suggests using it when making project communication strategies, highlighting the benefits of time savings and increased focus for the team. Listen to the podcast to know more. *PRINCE2® = PRojects in Controlled Environments

In this episode, Ricardo discusses how even small projects like assembling IKEA furniture can become overwhelming if not planned and executed efficiently. He highlights the need for attention, commitment, and streamlined communication to prevent such tasks from accumulating and disrupting larger goals. Planning, dedicating time, avoiding multitasking, and maintaining clear communication with stakeholders are vital strategies for these minor yet impactful challenges. By addressing these small tasks promptly and effectively, individuals can focus on more significant endeavors, avoiding unnecessary stress and complications in both personal and professional spheres. Listen to the podcast to know more.

In this episode, Ricardo talks about the hype cycle, which was first used in relation to technology but is also applicable to project management. He describes how projects go through phases of exhilaration that peak upon release, problems, and disillusionment. This cycle is like how technology hype, like that surrounding the 2022 introduction of ChatGPT, unfolds. As a project manager, Ricardo stresses the significance of traversing this cycle, admitting the early exhilaration, overcoming obstacles and disappointments, and eventually achieving productivity. He provides the example of building a tunnel when the reality of impediments replaces the initial thrill. Considering shifting goals and hype, Ricardo offers guidance on embracing and managing the cyclical nature of projects in his conclusion. Listen to the podcast to know more.

In this podcast, Ricardo discusses the importance of implementing AI projects with metrics, cautioning against the fear of missing out (FOMO) as a driving force. He draws attention to the high expenses of AI, especially those related to hiring qualified personnel and purchasing processing power. To analyze possible time and cost savings, Ricardo suggests using simulations to help businesses properly weigh the costs and advantages. Especially for enterprise-level AI projects, he recommends scaling up after doing small pilots to determine efficacy. Ultimately, Ricardo encourages listeners to consider the financial implications and benefits before jumping into AI initiatives based only on market trends. Listen to the podcast to know more.

In this episode, Ricardo talks about remote project management, drawing from years of experience. He stresses using online tools like Asana and Slack to stay organized and talk to people. Clear communication rules are fundamental and should include casual office hours for spontaneous discussions. Setting clear goals, roles, and standards helps team members be more independent. Collaboration tools like Miro make it easier to work together, and online social events help people get to know each other. When you work from home, you must be flexible and put results over strict control. Ricardo predicts that working from home will become the norm, which shows adapting is essential. Listen to the podcast to know more.

In this episode, Ricardo talks about the dilemma of balancing executive demands for transparency, resources, and deadlines with the need for agility. He makes it clear that agility doesn't mean having any control but rather a mix of control and flexibility. Flexibility, imagination, and new ideas are valued more than strict rules when using agile methods. Ricardo stresses the importance of educating executives on the nuances of agile approaches, especially in innovative and volatile environments. He suggests hybrid methods as a middle ground between agility and control. To finish a project successfully, you need to balance stakeholder interests and apply different methods to different project aspects based on experience and project requirements. Listen to the podcast to know more. * The image for this podcast was created in DALL-E using PMOtto Via ChatGPT Plus

In this episode, Ricardo talks about AI's role in risk management, particularly in risk identification, which is based on human experience and often involves techniques such as brainstorming. AI can analyze large amounts of data to identify links that people might overlook, such as the placement of diapers next to beer on supermarket shelves. Using AI in risk management provides insightful data despite concerns about its ability to predict sensitive personal data. Ricardo recommends integrating human experience with AI-generated risk lists for more efficient risk management. He suggests crafting accurate responses and advocates starting risk discussions with AI-generated lists before human brainstorming. This approach leverages the strengths of AI and human intelligence. Listen to the episode to know more. * The image for this podcast was created in DALL-E using PMOtto Via ChatGPT Plus.

In this episode, Ricardo talks about his recent adventure of moving homes. He shares insights from selling his old house and buying a new one, planning the move for a less busy time, and the unexpected turn of events when he decided to renovate his new apartment. The journey, filled with planning and chaos, offers a unique perspective on project management applied to personal life. Ricardo reflects on the lessons learned during the move, emphasizing that no matter how much you plan, unforeseen changes are bound to happen. He highlights the importance of commitment to deliver and the reality of facing a "chaos point" in projects, sometimes extending to a whole week of chaos, contrary to what one might expect. Listen to the episode to know more.