Probably no industry deals with uncertainties as challenging as those faced by the pharmaceutical industry. Very long development cycles. Huge amounts of money on the table for long periods of time. FDA approvals. And more. Decision making in this environment, is to say the least, immensely challenging.
This is why "value-based management" i(VBM) is rapidly gaining support in pharma and biotechnology. VBM provides management with the information and tools needed to confidently select the most promising projects to support. By focusing on "True North": the economic value that projects can return and the critical uncertainties that must be managed to management and their teams gain insights that lead to faster, better decision-making. And, to higher portfolio returns.
Ward Peterson, Vice President, Discovery of Inspire Pharmaceuticals will report on the successful deployment of VBM processes and supporting software at his company, at two upcoming events sponsored by SmartOrg: a Webinar on 25 April "Enhancing Portfolio Value" and the Global Project and Portfolio Managment for Pharma conference in Philadelphia 21-22 May. Details about each of these events are on the SmartOrg web site: www.smartorg.com
At the events, Ward will describe how a VBM system helps Inspire select projects that can be expected to contribute the highest portfolio value. The system, according to Peterson, "Provides a consistent, repeatable selection process that effectively factors in the impact of risk and uncertainty on portfolio value."
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