Pharmaceuticals: Speed and productivity are mission-critical in Pharmaceutical product development. Long-term success in the drug development space will go to those players who figure out how to bring promising new products to market quickly while simultaneously controlling development costs, without compromising patient safety or regulatory requirements. Critical chain provides pieces to the solution not found in traditional project management.
Discipline and Focus
In the heavily regulated pharma industry, execution discipline is an absolute requirement. With many complex products under development and the constant need for both speed and quality, superior discipline is extremely difficult to achieve. ProChain Project Management (PPM) provides the stable priorities and clear, logical procedures that help you to maintain or improve quality while dramatically increasing speed.
In late-stage development, for example, teams have literally hundreds of tasks going on in parallel. The problem is that only a few are driving the filing date. Traditional milestone-based approaches obscure work and hide priorities. Critical chain and PPM fix that. We have seen tremendous gains in speed and productivity come from a combination of the PPM methodology with its emphasis on practicing focused work, and our software’s ability to identify key tasks and resource areas.
In order to file earlier with the FDA, there are hundreds of potential actions the team can take that might possibly result in acceleration. But which ones should be followed? The trick is in knowing where the leverage is—what changes are really going to make a difference. By applying PPM teams know which handful of actions is truly leveraged.
When it comes to managing the project pipeline, we have found that Pharma companies often have a tremendous amount of data but little real information. This results in a lack of both vertical alignment and horizontal synchronization regarding the true status of a project and what schedule outcomes are most likely. Despite all the data, senior leadership and functional lines are often not as well informed as they need to be with respect to the true status of projects. PPM and ProChain Enterprise introduce an unprecedented level of transparency and visibility to the organization.