Comparative Evaluation of Model Accuracy for Predicting Selected Attributes in Agile Project Management

Abstract

In this study, we evaluate predictive modelling techniques within project management, employing diverse architectures such as the LSTM, CNN, CNN-LSTM, GRU, MLP, and RNN models. The primary focus is on assessing the precision and consistency of predictions for crucial project parameters, including completion time, required personnel, and estimated costs. Our analysis utilises a comprehensive dataset that encapsulates the complexities inherent in real-world projects, providing a robust basis for evaluating model performance. The findings, presented through detailed tables and comparative charts, underscore the collective success of the models. The LSTM model stands out for its exceptional performance in consistently predicting completion time, personnel requirements, and estimated costs. Quantitative evaluation metrics, including Mean Absolute Error (MAE), Mean Squared Error (MSE), and Mean Absolute Percentage Error (MAPE), corroborate the efficacy of the models. This study offers insights into the success observed, reflecting the potential for further refinement and continuous exploration to enhance the accuracy of predictive models in the ever-evolving landscape of project management.