The pharmaceutical industry is a time-sensitive, high-stakes world. When you are trying to develop and distribute products that can be lifesaving or life-changing for many people in the future, it’s critical to meet deadlines and ensure quality workmanship every step of the way. One misstep could mean disaster on an international scale with no foreseeable solution.
That being said, project management software has been essential for pharma companies across our globe as they seek new ways to bolster their workflow efficiency while ensuring safety and security at all times. And although there have always been small blips here or there–especially during implementation when key players might need some training–the real concern comes from those pivotal moments where something goes wrong because of poor planning in one area.
Pharma project management software now becomes a necessity in the pharmaceutical industry.
We are aware of the idea behind the project management tool that streamlines project workflow and tasks, thereby reducing redundant jobs and bringing compliance. However, apart from managing workflow and driving efficiency, there are more advantages of project management tools that pharma experts hardly talk about.
Today, we will reveal seven secrets that only pharmaceuticals experts know about and utilize while planning a new project.
- Planning & Scheduling
Pharma projects are complex and involve multiple entities including the pharma company, many external vendors, and regulatory bodies. Project planning must be meticulous and integrated – along with appropriate level of granularity, dependency mapping, and others. Excellent pharma project management software deliver top-class project scheduling by integrating multiple factors. Further, they are able to allow seamless collaboration with external stakeholders for swift communication and proactive monitoring.
- Configurable Processes & Templates
Within the pharma industry, organizations adopt different approaches, methodologies, and processes for drug development – reflecting their process maturity. In this background, it is non-negotiable that pharma project management software must be easily configurable to the specific needs of an organization. For this to happen, capabilities for creation of templates and processes must exist.
- Resources Management
Being resource-intensive, project managers responsible for pharma projects must ensure that costs are well-controlled. For this, they rely on pharma project management software that has capabilities for resource management by considering task dependencies, resource availability, resource over/under-allocation, and resource utilization. Further, during project execution, managers could review the efficiency and productivity of their resources through relevant analytics.
- Dossier Management
Managing pharma dossiers is one of the toughest aspects of any drug development project. While the granularity of documentation that include folders, sub-folders, experiments conducted, trials made along with revisions make it a daunting task. Add to this the focus of compliance by regulatory bodies, leaves very no option for pharma companies. A comprehensive pharma project management software with inbuilt capabilities for dossier management streamlines the complete process like a breeze.
- Business Value Tracking
Pharma projects are investment intensive as well as take many years to generate profits. Considering the size of investments, it becomes critical that business leaders are able to continuously evaluate the project viability by comparing forecast revenues with actual revenues and profitability. In this context a holistic pharma project management software with capabilities to capture comprehensive business case along with actual revenues and profits supports critical decision-making by leaders.
- Alerts, Reminders, Escalations
Today’s managers and leaders are expected to manage projects ‘proactively.’ There is little value in ‘reporting’ information after the event. Here, a pharma project management software with capabilities to define rules-based alerts and notifications ensures that business managers are equipped with information that they need to foresee the project future and take actions to align them – proactively.
- Reports and Dashboards
Imagine having the ability to see a cool dashboard as you’re tracking project progress. The system provides a wide range of reports and dashboards that can be configured to provide real-time project progress.
Conclusion
All the listed capabilities of pharma project management software above make it a go-to tool for project managers to deliver the intended business value to diverse stakeholders. In the process, they enable their organizations to manage their growth and profitability in the face of hyper-competition.
