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Increase Your Project Success
Causes of project Variance in the Biomedical Sector and How to Address Them
Executive Summary
Research into the patterns of project variance (deviation from initial plans) across the biomedical sector has identified four recurring root causes.
A recently published discussion paper presents the interim findings of the research, highlights the actual impacts of the variances and presents a research led model to increase your project success.
The research involved senior executives from seventeen organisations within the biomedical sector with experience of project decision making, sponsorship or leadership roles. Projects examined ranged from process improvements, transfer of manufacturing site, through new product development and new facility builds to IT system implementations at local and multiple site levels.
A thorough analysis of the research data revealed four distinct sets of root causes.
The People set was by far the largest set of recurring causes of variance, significant overlaps were observed between this and each of the other three sets.
The paper describes the key causes of variance in each set, uses examples to illustrate their effects and provides salient quotes to describe the impacts felt by organisations.
The Significance of Variance
Variances can have a catastrophic effect on both a project and the organisation. The impacts of project variances include:
Conclusions
Minimising and managing variance are key to delivering projects that satisfy customer expectations, within known time periods and costs.
Where projects are successful and low levels of variance observed, four domains were evident. To avoid the impacts detailed above, these discrete areas should be considered in the set up and running of any project. The discussion paper describes several practical measures that can be applied to gauge and reduce project vulnerability to the causes of variance.
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Damien Bové is THE Drug Development and Regulatory Consultant (pharmaceutical or biotechnology), I work with my clients to define a drug development target, define a drug development strategy, define a regulatory strategy or define a commercial strategy. Our clients are generally raising funds or looking to license out their technology and we help them achieve it. If you want to know more don’t hesitate to get in touch.
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