Empire State Drug Development - An architectural wonder teaches the biopharmaceutical industry a valuable lesson in project management. - BioPharm International

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Empire State Drug Development
An architectural wonder teaches the biopharmaceutical industry a valuable lesson in project management.


BioPharm International Supplements
Volume 25, Issue 3, pp. s24-s26

STAYING ON TIME AND IN BUDGET

Smaller biotech companies typically lack the financial resources of larger companies, so the selection of the right CDMO can make the difference between the success or failure of not only the project underway but also the company itself. A high-quality CDMO can contribute critical consulting and production support to help manage the difficult procedures and decision-making inherent in early-phase development to keep the project on target. With a well-integrated project management team, a small company can maintain its milestone schedule and budget.

CELEBRATE SUCCESS

The Empire State Building is a great example of a successful project. And while biotech project management is not entirely analogous to the creation of an iconic architectural masterpiece, it does share complexity and the need for highly skilled individuals.

A well-integrated project management plan and rigorous execution can provide a blueprint for current and future projects. The following steps are essential for success:

  • Develop a plan tailored to the size and scope of each project, taking into account its unique challenges and the strengths and limitations of your team.
  • Create well-defined decision-making processes—and use them.
  • Consistently evaluate project progress and keep the team focused on objectives and goals.
  • Take a hands-on approach throughout the project to support the team in meeting its daily schedule.
  • Maintain clear channels of communication and documentation to maintain transparency, keep everyone on the same page, and engender trust.
  • Anticipate and respond quickly to emerging problems and changing circumstances.

The Empire State Building celebrated its symbolic opening on March 1, 1931, when then-President Herbert Hoover pulled a switch from his office in Washington, DC, to illuminate the building for the first time. That date in history will always remain the day the most iconic building of New York was completed. Where the right plan and the right team move forward, success and celebration will follow.

PETER SOELKNER is managing director at Vetter Pharma International Gmbh, tel. +49 751.3700.3729,
.


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