Risk management for pharmaceutical industry

General discussion and questions about project risk management and risk analysis software RiskyProject. Includes discussion on how to perform efficient project risk analysis using our software.

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ManDell
Posts: 9
Joined: Sat Nov 03, 2007 9:08 pm

Risk management for pharmaceutical industry

Post by ManDell » Thu Nov 15, 2007 3:55 pm

I work for a large pharmaceutical company. We came across your tool and we think we can integrate it to our decision analysis process. Could you tell me do you already have clients in pharmaceutical industry and how do they use it (project valuation, tracking existing projects, cost estimations, etc.)?
IT Program Manager

Intaver Support
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Joined: Wed Nov 09, 2005 9:55 am

Post by Intaver Support » Thu Nov 15, 2007 3:58 pm

We have a number of clients in pharmaceutical industry. Among them there are a number of large organizations. They use RiskyProject for new product development (project valuation including cost and duration estimations for project with multiple uncertainties) as well as for execution of existing projects. For example, RiskyProject is used to manage different phases of clinical trials given risks and uncertainties in trial outcomes.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

BioTech2
Posts: 1
Joined: Fri Jun 18, 2010 7:27 am
Location: United States

Modeling decision branches

Post by BioTech2 » Tue Jul 06, 2010 12:07 pm

Hi,

We are currently looking at ways to model our product development schedule with branching. How do you recommend that we proceed. Can we use conditional branching or decision nodes. It seems to me that of the two, if you use decision branches, it will require a decison tree software to view the results

tx

James

Intaver Support
Posts: 823
Joined: Wed Nov 09, 2005 9:55 am

Condidtional vs Decision Branching

Post by Intaver Support » Mon Jul 19, 2010 10:49 am

Deciding which of the two processes, conditional or decision branching, to use depends upon what you are trying to achieve with the analysis and the tools that are available.

Conditional branching is a good tool for analyzing schedules that have multiple possible probabilistic path, but the specific decision to take a certain path will be unknown until you reach that decision point. For example in the approval process, you have several well defined milestones that correspond with various testing and approval pts. The future path of the project is determined by the results of the tests.

Decision branching is designed to be used in conjunction with a Decision Tree software. It provides a decsion tree that has both cost and schedule values. It is the addition of the schedule expected values that adds additional value to the decision tree analysis.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

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