Article investigates avenues of value creation via integration of AI technologies in project management practices within the construction industry, contextually in Industry 4.0. The key questions such as the advantages and challenges of AI adoption in construction, particularly the ability of AI to enhance decision-making, operational efficiency, enable predictive analytics for optimised project outcomes. A mixed-methods approach SLR using PRISMA framework plus thematic qualitative analysis employed. This approach highlights the crucial absence of a framework for AI-driven project management. The study endeavoured to address that gap by developing and testing a new AI-driven project management framework with an iterative prompt library at the heart of it. This prompt library was designed specifically for AI output refinement to improve accuracy of responses and lessened hallucinations, eventually leading to the AI model being able to handle more complex tasks. The findings unveil that AI has immense potential to significantly enhance construction project management by optimising decision-making and streamlining operations. Despite this, the research highlights multiple limitations, such as ethical concerns, data quality problems and the necessity of robust training programs to improve AI literacy in construction professionals. To conclude, although AI presents tantalising opportunities for project management optimisation in construction, its successful consideration requires careful consideration of technical, ethical and educational factors. These findings harbour significant implications for future research practices, highlighting how crucial they are in the ongoing development of AI frameworks and tools bespoke to the needs of the construction industry.