SCMS 3711 M50
XYZ Critical Thinking Project
Part 1- Framing the Project Portfolio Management Problem
1. What are the objectives? The objective is to research and develop pharmaceuticals products based on the selections that minimize cost and maximize value and sales. There will be a discussion of which projects will be allocated additional resources and at what cost.
2. What are the constraints? Competition is usually between brand-name drugs. Constraints for the study include risky drug discovery and development which could cause harm to participants and also waste money used on development. Other restrictions include the amount of time spent on Research and Development which leads to increased costs. There is also the concern with low return on investments and the emergence of generic drugs and competitors.
3. What are the risks involved? There are both technical and commercial risks involved. The most risky aspect of the project is within the research and development process. Drug discovery and development is extremely risky,...