Implementing Project Portfolio Management at Pharmaceutical Manufacturing Facilities

Abstract

Pharmaceutical manufacturing facilities are complex entities that are heavily regulated by health authorities. Manufacturing sites are challenged by increased production costs, tight regulations, and heavy competition. Without a disciplined and organized management of initiatives, projects end up being terminated due to poor performance or misalignment with strategy. This study examines different types of project needs at regulated manufacturing facilities and determines how the project portfolio management processes aids the manufacturing facilities in screening and selecting projects that aid in achieving the organization's strategic goals. Moreover, the study finds not one set of criteria can fit all projects in pharmaceutical manufacturing facilities. As a result, segregation of projects into different categories and then applying funds allocation ratio and the pre-screening criteria is proposed. Finally, the study contributes new logic inputs to the screening process within the body of the program and portfolio management.