On June 13, Captario hosted a Round Table Session on the topic of ”Quantitative Decision-Making for Projects and Portfolios - the Present and the Future.” The event occurred during the Annual PSI Conference in Gothenburg, and the attendees included Bio Statisticians from many of the top pharma companies worldwide.
Moderating the session was Captario Head of Science, Stig-Johan Wiklund.
During the session, the attendees discussed the evolution of thought and practice in decision-making and further how it can be examined by how assets move within the development, namely from Study to Project and then to Portfolio. Attendees also discussed the State of Affairs in the environment around analysis. Many issues came up, and the problems and future needs can be summarized accordingly:
Assigning risk parameters
The need for each asset team to know other teams and their goals
The need for portfolio teams to be aligned with asset teams, and vice versa
Transparent discussions are needed to understand overall company critical values and methodology
Model sensitivity to assigned risks, and is it possible to test?
The need for applying multiple scenarios to models
The need for the separation of financial teams from decision analysis and parameters
How to use and define metrics, like PTRS
The need for standardized approaches
The discussion had a momentum of related needs to proper decision-making analysis. One participant expressed the need for new tools as the industry moves to a more connected and collaborated context. This would answer many of the discussed areas of improvement. Another attendee addressed the need for increased knowledge, the need for communication, and the need for standardization but a continued focus on flexibility in modeling practices.
For closing remarks, Stig-Johan presented the work at Captario. He covered how Captario solves the challenges faced as assets move through the development life cycle. One attendee stated after the Round Table Session had finished:
”If this had been a marketing focus group and I was a developer trying to create a process or product to solve these challenges, the result would be Captario SUM®.”