What is it about?
Various aspects of portfolio management within the pharmaceutical industry are considered. It is shown that some popular notions of risk management are incorrect. Some additional practical matters are also touched upon.
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Why is it important?
Shows that uncertainty can be a valuable feature of a development project provided one is flexible enough to respond when and if the options are realised.
Perspectives
During the last two years that I worked for CIBA-Geigy I was asked to work on the problem of statistical approaches to project prioritisation. I learned a lot during the project and realised that I had underestimated the difficulty. It turns out that information and options are key. This is the second of two papers discussing the theme. The first was Senn, S. J. (1996). "Some statistical issues in project prioritization in the pharmaceutical industry." Statistics in Medicine 15(24): 2689-2702.
Professor Stephen J Senn
Consultant Statistician
Read the Original
This page is a summary of: Further Statistical Issues in Project Prioritization in the Pharmaceutical Industry, Drug Information Journal, January 1998, Springer Science + Business Media,
DOI: 10.1177/009286159803200133.
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