Evaluation of Project Management in Early-Drug Discovery in Pharmaceutical Industry: Understanding the Cost and Benefit of Early Assignments of Project Managers

Abstract

The main purpose of this study is to evaluate the Project Management in early-Drug Discovery in the Pharmaceutical Industry and to examine the cost and benefit of early assignments of Project Managers. This study focuses on how Project Managers can improve Business Processes and Team Communications in early-Drug Discovery projects. It also aims to determine the important characteristics/skills Project Managers must possess in order to successfully lead early-Drug Discovery projects and how Project Manager’s competence and their leadership skills can help achieve productivity in projects. In the first part of this thesis, a background on Project Management methodology, and the past and current Project Management practices in the Pharmaceutical Industry are described. The final part of this thesis provides empirical evidence with an in-depth analysis of current status of Business Processes and Team Communication, as well as Project Manager’s skills needed for effective team management. The results point to Project Management practices as a valuable asset to project teams in early-Drug Discovery and the value an early assignment of a Project Manager can bring in terms of improving Business Processes and Team Communication. The results from this study also show that communication, effective leadership, commitment, motivation, and ability to coordinate are the most significant managerial skills a Project Manager must possess in order to effectively lead early-Drug Discovery Projects.