Engineering, Project Management, and Artificial Intelligence Roles in Diversified Portfolio Projects

Abstract

Business diversification enables firms to achieve revenues but comes with increased risks when compared to operating in a single industry. Business diversification risks range from wrong investments to a total failure to compete with market competition and complete withdrawal from those markets. Business leaders invest in finding means to successfully diversify their business to achieve business sustainability and success. Grounded in the modern portfolio theory, the purpose of this chapter is to explore if integrating engineering management, project management, and artificial intelligence may sustain projects across diversified business portfolios. Data were collected from a review of previous literature and cases of successful integrations of engineering and project management and artificial intelligence from well-known brands globally. A key recommendation is to invest in such an integration. The integration may allow business leaders to sustain projects across diversified business portfolios, maintain operations, and contribute to communities' stability and economic growth.