Reducing Risk by Updating the Executive’s Dashboards

Executives and stakeholders in a drug development process are interested in two main things – seeing the overview of progress and having access to the budgetary data. Execs and stakeholders need this information to reduce risk during this lengthy process.

If headway of the drug development process is stalled, halted or changes in any way the executives and stakeholders need to be made aware. If a budget is off course the executives and stakeholders need to know. Having access to updated dashboards will keep them in the know.

If the executive’s dashboards are updated they will not need to interrupt or distract the Project Manager. Field containing updates on the progress of the drug development will be updated so executives and stakeholders can see the status. All stakeholders are looking at the same reports and dashboards. They will be more informed.

There is no consensus for what software system pharmaceuticals and CROs are using to manage the drug development process. The current system that a team is using may not be one that is able to track the progress of submitting a New Drug Application (NDA).

Companies have to supplement and makes these systems work for them. This creates a lot of risk. If systems are not integrated perfectly information can get lost. Again, execs and stakeholders are concerned with knowing the progress of the drug development and budgetary data.

Executives and stakeholders could be looking at spreadsheets with a field of notes listing the status.