Preparing a company for a commercial launch requires a transformation across the entire enterprise that necessitates the guidance and leadership of a member of senior management. Many CFO’s are tasked with initiating and overseeing the development of the commercial launch plans. When designing the commercial transformation of the enterprise, CFO’s will need to take into consideration key launch components such as the overall timelines, milestones and investment triggers, as well as long lead financial and IT requirements. In order to successfully prepare for launch, CFO’s should start launch planning as early as possible. 30 to 36 months prior to an expected launch, a commercial readiness roadmap, along with the subsequent costs and capital investments, should be mapped out. By 18 to 24 months before launch, core IT and business infrastructure capabilities should be determined and mapped to the launch milestones.
Posts Tagged ‘Finance’
Research and Clinical organizations are facing increased pressure to perform projects on-time, on-budget and with more predictable results. Typical financial and project management tools, however, fall short of providing the level of insight needed to manage large, complex projects effectively. Among the questions that are typically left unanswered are:
• What are the causes of variances to plan? How much of the variance is due to being behind schedule or falling behind in the amount of work completed, e.g., patient enrollment?
• Are positive variances I am seeing today just an illusion? Are project costs just being shifted into later periods?
• Given the variances I am seeing, what will the total cost of the project be?
As the pressure to perform has increased, so has the interest in looking to apply better tools to manage research and development programs.
The recent news of risky investment portfolios, oil spills and contaminated drug products highlight the magnitude of risks that businesses face and the devastating consequences if they are not visible or well managed. But, whose job is it to manage risk and how well is this effort being performed?