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The Differences Between Discovery and Development Project &
Portfolio Management Come Down to the Level of Risk
Tuesday, November 8
7:45 am Pre-Conference Short Course Registration, Early Conference Registration and Morning Coffee
Pre-Conference Short Course* 8:15-11:15
Quality Project Evaluation for Optimized Portfolio Management Decision Making
Michael Menke, Ph.D., Adjunct Professor, Engineering and Technology Management, Portland State University; President at Value Creation Associates; former Chief Portfolio Advocate, Hewlett-Packard
Eric Moss, Director, Portfolio & Decision Analysis, Pfizer
Aaron Salancy, Director, Cardiovascular/Metabolics/Neuroscience Portfolio & Asset Strategy Group, Bristol-Myers Squibb
Portfolio analysis has a long history and good track record in life sciences R&D and new product development. The methodologies for project and program evaluation and portfolio optimization based on decision and risk analysis are, by now, well established in these areas, but there is still a concern among senior managers about many of the key metrics used, due to the long time frames and high risk in life sciences R&D. Excellent portfolio management requires that decisions get made on the portfolio evaluation, so how do these portfolio decisions really get made?
We have benchmarked a number of leading organizations in life sciences and other industries to find out the best practices for excellent project evaluation and portfolio management. Many of these are analytical, but some of the most important ones involve people, governance and behaviors. The workshop will specifically cover:
We will use case studies from several major pharma companies to illustrate how good project evaluation and portfolio management impacts management decision making. Portfolio management is already delivering a lot of value, but if we can tighten the link between project/portfolio analysis and management decision making, the value delivered will be even greater.
About the Instructors:
Dr. Michael Menke is a Fellow of Knowledge Management at Decision Strategies Inc. assisting a wide range of companies with strategy, decision making and portfolio management. He was the former chief portfolio advocate for HP, advising executives and working teams at all levels and in all segments of HP on strategy development, portfolio management, decision making and new business creation. He was also founding partner of Strategic Decisions Group, a consultancy where many of the portfolio management approaches in use today by leading companies were initially developed.
Eric Moss has an MBA from the University of Missouri-St Louis. He joined Searle / Pharmacia in 1999 and became a member of Pfizer PDA (Portfolio & Decision Analysis) in 2003 as part of the integration. Eric has been an integral part of PDA over the years and has been consistently recognized not only for his expertise in executing asset and portfolio analyses but also for his leadership in ensuring that DA best practices are shared throughout the Pfizer organization. Prior to joining Searle in 1999, Eric held several positions in the Oil industry including; Process Engineer, Planning & Economics, and Area Sales Manager.
Aaron Salancy is the Director, Cardiovascular/Metabolics/Neuroscience, in Bristol-Myers Squibb’s Portfolio & Asset Strategy group, with management responsibilities for the team of analysts covering those therapeutic areas. He is also responsible for supporting franchise portfolio and strategy efforts in those therapeutic areas. Prior to joining BMS, Aaron spent over seven years with Pfizer, where he most recently headed the Portfolio Valuation and Prioritization department, with responsibility for valuing and prioritizing the development portfolio within budget constraints. Aaron also led decision analysis support for several therapeutic areas within Pfizer, including neurosciences, dermatology, and endocrine care, as part of Pfizer’s Portfolio & Decision Analysis group. Aaron holds a BS in Naval Architecture from Webb Institute, a Master of Engineering in Naval Architecture from UC Berkeley, and an MBA from the Kellogg School of Management at Northwestern University.
* Separate registration is required
11:20 Organizer’s Welcome
Micah Lieberman, Executive Director, Conferences, BioPharma Strategy Series, Cambridge Healthtech Institute (CHI)
11:25 Chairperson’s Opening Remarks
Grant Morgan, Ph.D., PMP, Director, Global Project Management and Analysis, Allergan
11:30 Optimizing Resources, Skills and Knowledge to Accelerate New Products to Market
Mike Hess, Vice President, Innovation Excellence, Corporate, Medtronic
This presentation will provide an overview of Medtronic’s multi-faceted, yet integrated approach to product innovation: people, process and technology. The talk will share how Medtronic manages their biggest asset and one of their biggest challenges – leveraging the depth, breadth and horsepower around the global organization, to achieve optimal innovation productivity and performance results. This presentation will offer: An overview of Medtronic’s global innovation system and key performance metrics; How Medtronic creates and sustains a global culture supportive of product innovation by focusing on accountability, high-performance teams, collaboration and information-sharing; and a view into Medtronic’s internal innovation resource network.
12:00 Driving Global Innovation with People at Kellogg Company
Mary Maley, Global Program Director, RQT (Research, Quality, Technology), Kellogg Company
With 2010 sales of more than $12 billion, Kellogg Company is the world’s leading producer of cereal and a leading producer of convenience foods. Kellogg Company’s beloved brands are manufactured in 18 countries and marketed in more than 180 countries. In her presentation, Mary will discuss Kellogg Company’s approach to global innovation and in particular, their focus on developing the leaders that drive new products to market. Highlights include an overview of Kellogg Company’s global innovation process & people; highlights of the Launch Program Leadership initiative; and key lessons for successful global product innovation.
Sponsored by 12:30 Luncheon Presentation
The Question is How do we Get More Done with Less? The Answer…Why Didn’t I Think of that Before? Diane Dromgold, Managing Director, RNC Global Projects
The question is how? How do we get more done with less? How do we share resources and use them strategically? How do we execute the strategy with less? How? Using case studies and stories, Diane offers an answer. When they hear it people usually say, “why didn’t we think of this before?” Diane has many years experience delivering strategic outcomes across industries, countries, cultures, expertise, and with teams both co-located and virtual.
1:40 Chairperson's Remarks
Eric Moss, Director, Portfolio & Decision Analysis, PfizerMoss, Director, Portfolio & Decision Analysis, Pfizer
1:45 Discovery Research in Pharmaceutical Companies: How to Do Better with Less?
Edward Leung, Ph.D., former Vice President, Pre-Clinical Research and Development, King Pharmaceuticals
Drug discovery and pharmaceutical development together is an applied science where a worthy new drug will be discovered only when biological understandings are successfully integrated with medicinal chemistry. We have adopted an approach towards drug discovery by only investigating biological targets where there is a wealth of literature and an abundance of scientists who have contributed to the field. This approach allows a medium size company to leverage a “virtual model” for drug discovery by outsourcing every experiment ranging from simple in vitro studies to complex behavioral models. While the virtual model is cost efficient because dollars are spent on actual experiments pertinent to the project rather than the infrastructure of the research organization, the business model alone does not guarantee success. The key factor in influencing the outcome of the discovery process is the internal team, especially in their ability to observe, give, and take. We will show how we manage to conduct original research with a core team of four leaders in medicinal chemistry, pharmacology, toxicology, and PK/ADME and a budget of 2 to 12 million dollars per year.
2:15 Case Study Co-Presentation: Forecasting Base Business Work to Improve Budget and Drug Development Planning
Jennifer Daubenspeck, Senior Business Analyst, R&D Operations, Bristol-Myers Squibb Co.
Melquiades de Jesus, Capability Director, R&D Operations, Bristol-Myers Squibb Co.
Bristol-Myers Squibb re-engineered their planning processes to leverage the Planisware enterprise-wide planning system. The new process explicitly forecasts resources for the base business work along with the drug development work to help inform the budget planning process and the drug development-project work execution. This case study demonstrates that benefits of using simple but explicit modeling techniques to forecast your base business work not only improves the budget planning process but the execution of the drug development projects.
2:45 Case Study of Integrated Business Operational Governance: A Journey
Cathy Beeskow, Senior Manager, Supply Chain Operations, Strategy, Planning and Portfolio Management Office, Cisco Systems Incorporated
Strategic Planning and Alignment, Financial Planning, Portfolio Management and Balanced Scorecard disciplines are critical in successful organizations. Equally critical is the integration of these disciplines in an overall governance and decision making framework. Over the last four years, Cisco’s Supply Chain has been on a journey to evolve these disciplines grounded in a governance framework which allows for effective and timely decision making. An overview of this journey highlighting key success factors will be shared.
3:15 Networking Refreshment Break with Exhibitors
3:45 The Partner Line Marketplace, Changing the R&D Resource Management Framework
Aron Cogswell, Executive Director, Integrated Business Operations, Pfizer, Inc.
Like many industry peers, Pfizer is faced with productivity challenges in the setting of a cost structure that will not enable sustainable scientific innovation. We are accelerating our strategies to improve innovation and overall productivity to create an Engine for Sustainable Innovation. One aspect of this acceleration is the creation of a new resource management framework: The Partner Line Marketplace. By shifting how CSOs and partner lines function, we are increasing the financial accountability of decision makers and improving the flexibility of allocating resources. To enable this new operating model, we are pursuing a journey to improve and harmonize our resource management processes, operations, and systems.
Interactive Breakout Discussion Groups: A
4:15 Breakout Discussion Groups and Afternoon Wrap Up:
Concurrent breakout discussion groups are interactive, guided discussions hosted by a facilitator or set of co-facilitators to discuss some of the key issues presented earlier in the day’s sessions. Delegates will join a table of interest to them and become an active part of the discussion at hand. To get the most out of this interactive session and format please come prepared to share examples from your work, vet some ideas with your peers, be a part of group interrogation and problem solving, and, most importantly, participate in active idea sharing.
TABLE: Driving Innovation and Value through Portfolio Management
Moderator: Beau Bush, Strategy & Portfolio Analysis, Global Strategic Marketing and Market Access (GSM&MA), Johnson & Johnson Pharmaceutical Services LLC
• How are trade-offs made between traditional pharmaceutical projects and enabling technologies in your portfolio
• How to value a biomarker or diagnostics platforms in your portfolio
• Making sure your forecasts and development plans talk to each other
TABLE: Leading Executives to Effective Portfolio Decision-Making
Moderator: Christopher Gajda, Director, Program Management & Strategic Operations, Amgen
• Framing portfolio decisions
• Determining the right level of data
• Capturing and communicating the rationale to ensure successful execution
TABLE: Quantifying Risk in R&D projects
Moderator: Jeffrey Handen, Ph.D., Vice President, Clinical Solutions, Medidata Solutions Worldwide
• How do you measure risk?
• Technical vs. Operational Risk
• De-risking: Project vs. Portfolio
TABLE: Alignment of Project Management and Resource Management
Moderator: Cleat Jerden, Senior Project Manager, Process Development, Amgen, Inc.
• How resource management is included in project planning
• Resource tracking throughout project execution
• Selection process for project resources
TABLE: Balancing Project Manager Workload
Moderator: Mary Maley, Global Program Director, RQT (Research, Quality, Technology), Kellogg Company
• How do you forecast the amount of time a project will take?
• How do you assess the capacity of your project managers?
• How do you prioritize across customers and transition projects to maintain balance?
TABLE: Managing Technology/Development Initiatives in a Matrix Environment
Moderator: Jennifer Nemeth, Ph.D., Principal Research Scientist, Biologics Research, Centocor R&D, A Division of J&J PRD
• The hurdles of managing daily business requirements and still make deliverables on your Initiative.
• The difficulties of wearing many “Hats” in a matrix environment.
• Getting management support for your Technology/Development Initiative.
TABLE: Achieving Excellence in Portfolio Management: A Best Practice Approach
Moderator: Michael Menke, Ph.D., Adjunct Professor, Engineering and Technology Management, Portland State University; President at Value Creation Associates; former Chief Portfolio Advocate, Hewlett-Packard
Most business processes are built upon a foundation of business practices and the quality of the process output depends heavily on implementing the right practices, doing them whenever necessary and executing them well. This breakout session will explore:
• What are the most important practices for excellence portfolio management?
o Which ones are essential for excellence?
o Which ones can confer competitive advantage?
• Are there standards (benchmarks) to measure ourselves against?
• How does pharma compare to other industries?
These results are from an international portfolio management benchmarking study conducted in May 2011.
TABLE: Evolution of Project Management Office (PMO) Governance
Moderator: Cathy Beeskow, Senior Manager, Supply Chain Operations, Strategy, Planning and Portfolio Management Office, Cisco Systems Incorporated
• Planting the seeds
• Identification of readiness
5:30 Networking Cocktail Reception with Exhibitors
6:30 End of Day
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