Implementation of an Enterprise Portfolio Management System at a ‘Take-off’ Stage Biopharma Company
Ambigapathy, Keerthivasan (2022)
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022052712603
https://urn.fi/URN:NBN:fi:amk-2022052712603
Tiivistelmä
The case company operates in the highly competitive generic biopharmaceutical industry where key success factors are ‘time to market’, ‘cost reduction’, and ‘meeting quality and regulatory targets’. Project and portfolio management enable these through balancing scope-time-cost constraints. The case company is a pre-revenue, ‘take-off’ stage start-up, transitioning to maturity with an expanding product pipeline and an IPO on the horizon. There is a need for better command and control of the portfolio with ‘one-speed-portfolio progression’. The outcome of the study is to development of an enterprise portfolio management system (EPMS) product for the case company.
The study surveys academic literature in the areas of project management and its connection to strategy, project management knowledge areas, design thinking, agile methodology, and change management. Existing frameworks and tools within these domains are synthesized to develop an integrated framework for the thesis work. The study had the following objectives: (a) to understand the business value of this transformation project, (b) to customize the product for the case company, and (c) to identify success factors to implement the product and drive the change in the case company.
The study follows an action research methodology with participatory observation in group workshops. The participant mix consisted of 17 colleagues from the program management business unit (n=8), representatives from business verticals (n=6) like clinical, regulatory, manufacturing, and R&D, function head, project sponsor, and vendor. Data collection was qualitative and interpretive from recorded sessions with qualitative content analysis for the analysis of data. The workshops aimed to understand the current process and gaps and to collectively envision the future state process using EPMS.
The findings from the research are: (a) theoretical frameworks and tools chosen are appropriate for the study, (b) implementation of EPMS brings value by enabling efficient portfolio execution and strategic decision making, (c) EPMS must follow agile development with modules such as project management, timecard, risks/issues/presentation, budget management, resource management, and dashboard,(d) developed in phases with a product rolled out at the end of each phase, and (e) change management must be carefully planned by defining stage and goals appropriately. The thesis work outcomes are the customization of the EPMS product in the case company and the demonstration of capabilities to the CEO and business leaders in Q1 2022.
The study surveys academic literature in the areas of project management and its connection to strategy, project management knowledge areas, design thinking, agile methodology, and change management. Existing frameworks and tools within these domains are synthesized to develop an integrated framework for the thesis work. The study had the following objectives: (a) to understand the business value of this transformation project, (b) to customize the product for the case company, and (c) to identify success factors to implement the product and drive the change in the case company.
The study follows an action research methodology with participatory observation in group workshops. The participant mix consisted of 17 colleagues from the program management business unit (n=8), representatives from business verticals (n=6) like clinical, regulatory, manufacturing, and R&D, function head, project sponsor, and vendor. Data collection was qualitative and interpretive from recorded sessions with qualitative content analysis for the analysis of data. The workshops aimed to understand the current process and gaps and to collectively envision the future state process using EPMS.
The findings from the research are: (a) theoretical frameworks and tools chosen are appropriate for the study, (b) implementation of EPMS brings value by enabling efficient portfolio execution and strategic decision making, (c) EPMS must follow agile development with modules such as project management, timecard, risks/issues/presentation, budget management, resource management, and dashboard,(d) developed in phases with a product rolled out at the end of each phase, and (e) change management must be carefully planned by defining stage and goals appropriately. The thesis work outcomes are the customization of the EPMS product in the case company and the demonstration of capabilities to the CEO and business leaders in Q1 2022.