Pharma decision making is challenging given the high degree of inherent uncertainty. The traditional Decision Quality framework does not lend itself to agility and the realities of organizational complexity. This presentation will describe several analytical approaches that can be quickly used to get to a no-regret decision. Examples will be provided that can support both portfolio and individual project decision making under uncertainty.

While most organizations extoll the virtues of engaging in Portfolio Management to foster a culture of good decision making in pursuit of value maximization, a disproportionately low proportion focus on the pedigree of the data and information used to determine whether they can attain their Portfolio Management goals. Decision Analysis, often regarded as the ugly sibling of Portfolio Management, is a discipline that is geared toward rationalization of data for use in making difficult decisions under conditions of risk and uncertainty. In laying the foundations for good Portfolio Management, Decision Analysis plays an indispensable role in ensuring decisions are truly ‘data-driven’ as opposed to being mired in heuristics, advocacy, and politics.

In Portfolio Management, tension can arise between the need for consistency to support prioritization and funding allocation at the Portfolio level and the need for customization to incorporate idiosyncratic considerations at the individual project level. This presentation outlines a recent case study and the approach used to incorporate project-specific issues stemming from a unique drug development plan while fulfilling the portfolio consistency requirements.

Change is hard. Especially with multiple stakeholders in an international organization having diverging views on how to make the best portfolio decisions. So what happens when leadership wants change, but some of their followers don't want it? This is the story of one portfolio group in one company and its early efforts to inject Decision Quality into its portfolio process, and how it is learning to turn resisters into supporters.

This presentation is meant to trigger a dialogue towards being more intentional with how we grow effective leaders in the cross-functional game of drug discovery and drug development. What is a Drug Hunter? How long would it take for a world-class professor of Project Management to become an effective leader in drug development at your organization? What resources have you identified as priority items for a curriculum to bring up your junior staff in PM? What kinds of drug discovery and/or development experiences do you think best contribute to optimally shaping your top-tier PM talents?

To enable acceleration, R&D functions must work in concert, managing limited resources to deliver on project goals in the face of considerable unknowns. Learn about an approach to planning and execution that will help project teams and enabling functions deliver high-quality outcomes with all possible speed by managing uncertainty instead of compensating for it.

Explore how to enhance portfolio value through building fit-for-purpose portfolio capabilities without overburdening the already resource constrained organization; one size does not fit all. Discuss assessing existing capabilities, gaps, and stakeholder appetite for change; portfolio team and reporting structure, tools and systems, data, analytics, governance; collaboration, partnerships, and change management to ensure success.

Topics covered to illustrate the role of PMO and tools available after late-stage setbacks, including forecasting resources in growth phase, scenario planning, managing steep decrease in demand due to portfolio changes, toolbox needed to support transition, and lessons learned.