Effective Risk Assessment and Management in Pharmaceutical Industry
This presentation explores critical risk assessment and management practices in the pharmaceutical industry, emphasizing the importance of proper implementation to minimize threats to project success. Key factors include leadership, communication, organizational culture, and regulatory risks in the pharmaceutical sector.
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Presentation Transcript
CRITICAL RISK ASSESSMENT AND MANAGEMENT PRACTICES IN PHARMACEUTICAL INDUSTRY ABIDA ZAMEER HARRISBURG UNIVERSITY GRAD 699 PGMT
AGENDA Introduction and Problem Statement Methodology Results Discussion Conclusions
Special Characterstics of the pharmaceutical industry Taken from http://tuta.aalto.fi/en/midcom-serveattachmentguid- 1e468c4f000159668c411e4a6e1d56a8c2c0eb70eb7/report_saari_012004.pdf
Special characteristics of projects and project management in Pharmaceutical Industry Taken from http://tuta.aalto.fi/en/midcom-serveattachmentguid- 1e468c4f000159668c411e4a6e1d56a8c2c0eb70eb7/report_saari_012004.pdf
Taken from http://tuta.aalto.fi/en/midcom-serveattachmentguid- 1e468c4f000159668c411e4a6e1d56a8c2c0eb70eb7/report_saari_012004.pdf
Not a management gimmick Helps to avoid big disaster Ensures the successful completion of project Helps to explore new opportunities
What is Risk? Undesirable Future Effect What could go wrong?
https://pdfs.semanticscholar.org/f97a/7667bab74756fc9b26f594f0ae7f9a4c1bb2.pdfhttps://pdfs.semanticscholar.org/f97a/7667bab74756fc9b26f594f0ae7f9a4c1bb2.pdf
Proper implementation of principles of project risk management is well known to minimize the impact of threats to any project. However, the determination of critical success factors which threat the success of pharmaceutical projects at baseline are usually uncertain. Good leadership and clear communication and organization culture are the most important critical success factors for the implementation of risk assessment and management practices in the pharmaceutical industry. Regulatory risk is the most important risk in the pharmaceutical industry.
Self-administered structured questionnaire Randomly selected professionals from pharma industries www.surveymonkey.com
Demographics Risk Awareness Important risk encountered Critical Success factors Likert Scale 1-5
N=20 questionnaires were sent 12 Questionnaires were completed Type of organization of the respondents
Showing number of years of work experience of the respondents Professional backgrounds of the respondents
Regulatory risk is the most important risk In similar studies 67% of the respondents marked as number one risk in the pharmaceutical companies Awareness of risk management processes is closely linked to the critical success factors of effective use of methods and tools and availability of specialist risk and management consultants
Top three critical success factors : Leadership communication/ feedback Organization culture
Significance in the realm pharmaceutical industry Formulating road map Application in pharma space
Descriptive analysis Small sample size Limited external validity
