Project Risk Analysis Software and Project Risk Management Software Forum

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.)?

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.

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

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.