Bringing a new drug to market is not without risk. Certainly every pharmaceutical has completed rigorous analysis and determined acceptable risk tolerances for everything, from adverse events to re-submission delays. Even still, it is nerve racking making the decision to initiate new drug development research given the lengthy timelines and costs associated with a drug. It is just as stressful to make the decision to move forward with continued investment as you approach natural stage gates in the overall development process.
One area we believe gets under represented in the risk analysis has to do with the lack of a centralized Work Management strategy.
Within the next two years the most successful pharmaceutical organizations and CROs will do the following to reduce risks associated with Work Management. They will:
1. Look for ways to harmonize each step of the drug development process.
2. Create methods to prevent data loss during the research period.
3. Reorganize research teams to be more collaborative.
4. Reduce the number of resubmissions to FDA.
5. Update executive dashboards to retain a better view of the overall development process.
In this series, we will explore in greater detail how risk can be reduced through enterprise work management and establish the premise that operational optimization will realize new levels of risk management within the pharmaceutical industry.
Contact us to learn more about how consolidating your work management tools can benefit your organization.