## 2 State of Knowledge
### Project Risk Management  
The main objective of project risk management is to optimize the chances of project success by increasing the probability and/or impact of positive risks and decreasing the probability and/or impact of negative risks. If risks remain unmanaged, it may cause delays, cost overruns or a loss of reputation. This knowledge area includes identifying and managing risks and is divided into seven processes see Figure 3.  
Plan Risk Management incorporates determining how to conduct the risk management activities. Identify Risks incorporates identifying project risks, both individual as well as sources of overall risk. Perform Qualitative Risk Analysis focuses on high-priority risks. Perform Quantitative Risk Analysis incorporates a numerically analysis of the combined effect of the identified risks on the project objectives. Plan Risk Responses incorporates  
Figure 3: An overview of the project risk management processes. Adapted from [8]. Figure 2: An overview of the project cost management processes. Adapted from [8]. the appropriate options to address identified project risks. Implement Risk Responses incorporates the implementation of risk responses in the process above. Monitor Risk involves monitoring the implementation of the risk response [8]. [PERSON], a well-known American computer scientist, defines AI as \"the activity devoted to making machines intelligent, and intelligence is that quality that enables an entity to function appropriately and with foresight in its environment\" [9]. AI is recognized to have a large impact on our near future and will reshape many areas of the business environment. The use of AI in management leads to constant interactions between humans and machines. Managers in key organizational domains have already started using AI. These domains include human resources, marketing, customer management and product innovation [2]. The fourth industrial evolution is a topic that has been discussed a lot in recent years, where the nature and extent of rapid technological changes are discussed. The technology's positive and negative impacts are evaluated and reflected on in terms of how it can be managed for the benefit of businesses and society, and what to expect in the coming years [10]. The AI approaches and available tools to be used for automating tasks in business project management have been researched. It was clear that the expectations exceed today's possibilities; the solutions available hardly meet the requirements of terms such as Project Management BOT or Automated Project Management. A project manager's tasks can currently only be automated in small, defined areas [3]. In the future, managers at all levels will have to adapt to the use of machines as part of their profession. A survey by [PERSON] et al. [4], published in the Harvard Business Review, explored how managers could grow and succeed in the age of AI. Based on their survey, five practices were considered necessary for managers to be successful. These five practices include leaving administration to AI, focusing on judgement work, treating machines as \"colleagues\", working like a designer and developing social skills and network. It is most likely that AI will prove to be cheaper and more efficient than humans in certain tasks. However, that does not mean that machines will completely take over the profession of being a manager. Instead, managers can spend their valuable time on tasks that only humans are able to do. These tasks include the application of experience and expertise to critical business decisions. AI is intended to support managers, not replace them [4]. To achieve a successful outcome for any project, planning and scheduling are crucial elements. A research by [PERSON] and [PERSON] [11] compared two approaches that can be used in project planning. The first approach focuses on network-based techniques and decision models. The second approach focuses on techniques based on artificial intelligence.