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Portfolio and Project Management Masterclass for Pharmaceutical Industry

Why do some big and famous pharmaceutical companies manage to deliver successful products and services to the markets year after year? And why are the majority of other companies unable to replicate this success no matter how hard they try? Recent studies indicate that only 32% of our projects can be considered successful, while 44% are challenged (i.e. grossly over the budget and/or late) and 24% are outright failures (i.e. cancelled by the customers before they are even completed). Further research shows that the lion’s share of this lack of success can be attributed to poor requirements elicitation, insufficient planning and inadequate project control. This workshop is dedicated to the complicated and somewhat enigmatic topic of delivering successful products and services to the marketplace by selecting the best projects for implementation, proper assessment of the company’s throughput capacity and having a good grasp on project and portfolio management.

Turning 'Theory' into 'Practice'?

For every pharmaceutical company which dedicates significant resources to projects this training is MUST DO! This course will demonstrate to the participants how to perform these tasks properly and efficiently by giving them skills, tools, techniques and economic principles that transcend various company structures, environments and project management philosophies. Using the historical case studies and the best practice examples from leading pharmaceutical companies you’ll learn how to achieve a proper project portfolio balance and how to deliver exceptional project results.

Who should attend?

The course is designed for senior executives of Pharmaceutical companies, project management and marketing professionals from pharma and healthcare industry. The job-titles may include: • CEOs, COOs, CTOs, CIOs etc. • Vice-presidents • Project and program managers • Functional department directors and managers • Directors of Project Management Offices • Portfolio Managers, etc.

Key areas to be covered in the programme and documentation

How to Deliver Exceptional Project Results
In this module we will assess the overall success rate of the projects in Pharma industry and try to explain the high failure rate of the endeavours undertaken by various companies. In the process of
this session we will derive a formula for the delivery of exceptional project results and conduct a high-level overview of project and portfolio management.
• Introduction to successful project management – history, philosophy, economics
• How to define project scope?
• How to deliver exceptional project results?
• Project management vs. portfolio management
• Group case study
• Why bad things happen without PPM?
The Art of Estimation
• Individual Exercise – “Are we good at estimating in general?”
• Why are we constantly late and over the budget on almost all
of our endeavours?
• Key misconceptions about project estimation
• “Cone of Uncertainty” – What is it?
• Is padding of the estimates acceptable?
• How do we improve our estimation efforts?

Are we Supposed to Negotiate on Projects?
Are we expected or even allowed to negotiate with our customers and senior managers about the scope, timelines and budgets of our projects?
• What is a negotiation
• How to negotiate?
– Using Investigative negotiations
– Inventing options for mutual gain
– Presenting multiple offers
• The best techniques for obtaining the additional degrees of freedom
• Group Exercise

Customer Walkthroughs, Technical Inspections and Peer Reviews
• How can we improve quality and minimize the number of defects on our endeavours?
• What is the cost of mistake throughout the pharma project lifecycle?
• When is the optimal time to invest in the documentation reviews?
• Types of reviews and things to watch out for

Why Should You Manage Scope and Customer Expectations?
How does one keep the project budgets and schedules in check while keeping the customers and the management happy? What can the project manager do to prevent the project scope from ballooning into something scary and unmanageable?
• Why should we manage expectations?
• Why do changes happen?
• How much do things change on the project?
• How to manage requirements?
• How to assess the impact of the change?
• Group Exercise – “Assessing the Change Request”

How to Maximise a Portfolio Value?
The first pillar of project portfolio management: we will examine several project value assessment models including financial methods (NPV, Bang-for-Buck, etc.) as well as the scoring techniques (DuPont scoring model, EXFO scoring model, best practices scoring model, etc.). Advantages and shortcoming of
each approach for pharmaceutical projects will also be discussed in this session.
• Overview of the project portfolio management process
• Who should participate in portfolio reviews?
• Financial methods – descriptions, advantages and concerns
• Scoring models – descriptions, advantages and concerns
• Discussion – points to ponder about the value of the projects at your company

How to Balance the Project Mix?
The second pillar of project portfolio management: why should a pharmaceutical company seek a balanced portfolio?
• Why seek balanced portfolio?
• What dimensions should you consider?
• What types of bubble diagrams are used in the industry?
• What are the most popular bubble diagram dimensions?
• Discussion – points to ponder about balancing your portfolio mix

How to Link Portfolio to Strategy
The third pillar of project portfolio management: can we link all of our company projects back to the overall strategy? Can our executives answer a seemingly simple question, “Why are you doing this project?” We will examine top-down and bottom up approaches of linking project to strategy as well as their strengths
and weaknesses.
• What are the prime goals of the market leaders?
• What is strategic linkage?
• What are the linking approaches?
• Discussion – points to ponder about your company’s strategy and linkage to projects

How to Implement Project Portfolio Management in Pharmaceutical Company?
This capstone section of the workshop will be dedicated to summarising all of the information learned in this course and providing the attendees with hands-on practical steps that should be undertaken when implementing project portfolio management at a given company.
• What are the pharma market leaders doing?
• Where do we start?
• How to estimate your firm’s resource capacity?
• What are the key steps in implementing project portfolio management?
• Dangers, issues and possible solutions
• Discussion – what are the next steps?

Benefits to you

• Recognizing the combined importance of both portfolio management (i.e. the selection of the right projects) and project management (i.e. the disciplined delivery of the selected projects
• Understanding why project portfolio management is essential to the success of your business
• Finding out about effective negotiation techniques with customers and management
• Learning efficient creativity cultivation techniques for your project team
• Finding out about great stakeholder and scope management methods
• Understanding how document walkthroughs, inspections and peer reviews can save you money and time on your projects
• Understanding how to maximize the value of your pharma project portfolio
• Discovering how to achieve a proper project portfolio balance • Finding out how to link your project portfolio to the overall company strategy
• Learning how to implement an effective portfolio management framework at your company
• Extra benefit: You’ll get a signed free copy of a book of the trainer “Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management”.

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

15th & 16th April 2015, London, PT3049
4th & 5th November 2015, London, PT3050

Looking to train larger teams in this subject?

dzingim@marcusevansuk.comTailored in-house/in-company training courses and bespoke strategy workshops designed and delivered on-site throughout Europe according to your specific requirements.

All management, personal development and project management public courses featured in our Course Directory are also delivered on an In-Company basis.

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"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac