Assignment Answers of European Pharmaceutical Company

Assignment Answers of European Pharmaceutical Company

Running head: PROJECT PORTFOLIO MANAGEMENT
Project Portfolio Management: European Pharmaceutical CompanyA
Name of the S …

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Running head: PROJECT PORTFOLIO MANAGEMENT
Project Portfolio Management: European Pharmaceutical CompanyA
Name of the Student
Name of the University
Author’s Note:
PROJECT PORTFOLIO MANAGEMENT 1
Table of Contents
1. Introduction ………………………….. ………………………….. ………………………….. ………………………. 2
2. Discussion ………………………….. ………………………….. ………………………….. ……………………….. 2
2.1 Portfolio Management to be adopted in European Pharmaceutical Company A …………… 2
2.2 Critical Evaluation of the Current and Potential Initiatives in the Case Scenario …………… 2
2.3 Recommendations to the Organizational Executives ………………………….. …………………… 4
3. Conclusion ………………………….. ………………………….. ………………………….. ……………………….. 4
References ………………………….. ………………………….. ………………………….. ………………………….. 6
Appendix ………………………….. ………………………….. ………………………….. ………………………….. …. 8
PROJECT PORTFOLIO MANAGEMENT 2
1. Introduction
PPM or project portfolio management can be termed as the central management of an
organizational project. These projects are related to one another and they are being managed
for a portfolio for overseeing and managing any competing resources (Danesh , Ryan and
Abbasi 2018 ). Portfolio management in project even includes the intake procedure of projects
and also identifies every potential projec t by authorizing them as well as involving them in the
entire portfolio (Hadjinicolaou and Dumrak 2017 ). PPM also involves higher level controls and
monitoring to make sure that the ongoing projects are directly associated to the overall
strategies and obj ectives of a business. This report provides a brief discussion on the PPM of a
popular European pharmaceutical company, A with relevant details.
2. Discussion
2.1 Portfolio Management to be adopted in European Pharmaceutical Company A
The European pharmac eutical company, A comprises of a diversified range of products
and services. This particular organization is involved in the manufacturing of medical equipment,
hospital management and drug development. They also comprise of a stronger presence in the
mar kets of the European Unions and North America. The organizational management has been
considering a working session with the research and development team executives. However, it
is being observed that there would be distinct impacts on their project portf olio management.
Company A should ensure that they are flexibly adapted to the requirements of the users
as well as business procedures. Hence, portfolio optimization would be driven and the user can
easily model different portfolio scenarios for the determination of the best strategic path
(Kopmann et al. 2017 ). The respective organizational management has considered an effective
strategy to get an end to end collaborative project, portfolio and resource management that can
be termed as extremely help ful for the users to gain visibility, control and insight for enhancing
decision making as well as improving an alignment of work and project related initiatives with
the respective business strategy. As a result, manufacturing of the equipment would be qu ite
easier for the pharmaceutical company (PPM. 2022 ). They have been able to deal with the
financial crisis and make up strategies for better results and analysis of the process.
2.2 Critical Evaluation of the Current and Potential Initiatives in the Cas e Scenario
The European pharmaceutical company, A has considered a few vital and significant
aspects related to the current and potential initiations. The newly manufactured medical
equipment helps the project managers to execute the project as per the re quirements and also
gain better efficiency (Hoffmann, Ahlemann and Reining 2020 ). The strategic busi ness drivers
would be enhanced to a high level, so that there w ould be a better chance of efficiency and
effectiveness in the business, under every circumstance. The long term goals and objectives of
the business would be accomplished, so that maximum success is obtained.
The pharmaceutical company has the core pote ntial of increasing the revenues by
tripling the profits and as a result, gain financial benefits . Different portfolio scenarios can be
easily modelled for determining the best strategic path and also ensuring that the negative
aspects would be reduced suc cessfully (Lock and Wagner 2018 ). This particular initiative of A
has also been responsible for considering the cost and resource constraints for planning,
prioritizing and even managing portfolio investments.
As per the scoring model, A has been able to consider a strategic alignment in their
processes and operations. Three ma in strategies of the business are cost strategy,
differentiated product or service strategy and a focus on the niche strategy. The complete
understanding of these s trategies would be termed as distinct for the business to get an
appropriate and effective strategic business plan. The PPM plan of the pharmaceutical industry
PROJECT PORTFOLIO MANAGEMENT 3
has been a strategic fit for all of these strategies and the financial values have been increase d
to a certain level.
The second scoring factor of A is technical feasibility, in which the PPM can be referred
to as distinctive for the aspect that maximum technical benefits are gained . Hence, portfolios
would be balanced by identifying the major discrepancies in the process and even check for
positive return on investment for the solution (Project Portfolio Management. 2022 ). A has
considered a bottom up approach in their business processes and the organizational divisions
are managed with proper strategic initiatives. Innovativeness is also identified in their products
and services and as a result, market shares are improved as well as customer loyalty is
increased.
Another distinct current initiative of the solution is to aggregate the portfoli os, projects
and programs in the business in an interactive and visual roadmap for broader and effective
visibility for the members (Schipper and Silvius 2018 ). Four vital strategies are being identified
for the pharmaceutical company of Europe, A and thes e include market position expansion,
extension of the globalized presence, improving the innovation and enhancement of profitability.
It would be needed for making the process of decision making easier and even ensure that the
existing issues are eradicate d (Kock and Gemünden 2021 ). A proper improvement of the
innovation can be distinctive as it would involve manufacturing cost in an effective manner by
successfully leveraging the competence in R&D as well as maintaining a high level of safety and
even prom oting user -friendliness.
Apart from the current initiatives, there are a few potential initiatives that can be
observed in the case scenario of PPM and these would also be beneficial for the users and the
business (Patanakul 2020 ). With the extension of the global presence, there is a significant
chance that it has implied penetrating new markets with a mixture of the new products and
every existing service. The next distinct potential initiative would be customizing the portfolio
management for best suit ing the organizational needs and reducing the total time to market.
i) A negative aspect observed in the organization is high competitiveness. The R&D
projects can be same in different competitors and as a result, suitable strategies are needed to
be included for reducing these aspects.
ii) The second aspect that is not beneficial in the PPM is their financial aspect or
payback. The payback would be possible after 3 years, which can be a huge time for analysis
and hence the factor is listed under medi um or 5 points (Project Portfolio Management in
Theory and Practice. 2022 ). It implies that the management would be impacted negatively and
core competency management would be difficult.
Hence, as per the scoring model, the PPM solution of the European p harmaceutical
company A has been extremely beneficial and even a strategic fit for the work (Miletic,
Belokapic and Nesic 2020 ). The risks and threats related to data transformation and
management would be quite easier. Technical feasibility is also high a nd the respective PPM
solution would not be incurring any kind of technical error, under any circumstance. It would also
be responsible for bringing additional competitive advantages to the organization and the overall
market attractiveness is higher, in r espect to the other technological project and portfolio
management (Petro et al. 2020 ). The fifth factor for portfolio scoring is financial aspect, which
states that the respective solution would be bringing maximum financial solution or payback to
the company and the organizational strategies of financial benefits would be fulfilled
successfully. A portfolio scoring matrix for the specific PPM solution of A is provided below:
Selection Points Awarded
PROJECT PORTFOLIO MANAGEMENT 4
Criteria 46 Points
Joker 1 Point 5 Points 10 Points Kill?
Strategic Fit No No Fits four of the
strategies of A.
No
Competitive
Advantages
Low
More than four
competitors
offering similar
products.
No No No
Market
Attractiveness
No No Number of
patients is high
for the medical
equipment
manufacturing.
No
Technical
Feasibility
No No All of the
knowledge is in –
house
No
Financial
(sales )
No €M

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