Evaluating Projects Flashcards
To what are projects linked?
to measuring and demonstrating results
on what does a good project managment practice based on?
to perform evaluation, which depends on the finding/results
what is the results of evaluation?
it contributed to transparency and accountability
what are the benefits of the evaluation process?
Lessons learned can be sheared more easily
Report provide a more robust for raising budget and influencing stakeholder
when should the project be evaluated?
No hard rule is available, often govered by company policies
What are some hints that a project needs evalaution?
New project
Project under execution
project closeout
when is a re-evaluation needed?
when the project appears to be in trouble or when the project produces better results than expected
why should project closeout be evalauted?
additional information e.g when the product is in the market and economic reture on investment can be assesed
Lesses learnded and best practices ca be applied to subsequent projects
why is the pre-project evaluation important?
it determines the effectiveness of the project before execution
Who has to be convince?
the stake holder in an internal project
What’s the main difference in the pre-project evaluation in a pharmaceutical industry and innovation department?
In pharma Industry one obtained a project demand (internal or customer), while in an innovation department there is a complete processes for pre-project evaluation (Cooper’s stage-gate-process)
Types of project are grouped by? (learn to draw it and give examples)
uncertainty of the project outcome and the execution of the project
How does a project lifecycle looks like?
Demand
Preparation
Execution
what are some project charter?
Project scope and dependencies Project economics Economic key Performance Indicators Porject risks and mitigation project Effort and cost project organization Miestone plan
what are Project economics?
Qualitative and quantitative benefits
Busines Value
what are Economic key Performance Indicators
Net present value
internal rate of reture
Payback period
How do you obtained the excepted commercial value (ECV)
NPV* probability of the project = ECV
what are steps in pharmaceutical project evaluation?
Project definition Definition of options Collection of data Assumptions Business Case Controls
Which steps are related to each other
Collection of data
Assumptions
Business Case
Project definition
Define the scope, objectives and focuse
Definition of options
Rate different options with regard to attractiveness
Collection of data
gather data (internally and externally) that are required based to make assumptions
Assumptions
evaluation collected data and formulate internal and external assumptions, test these and re-check data
Business Case
present business case, re-define it in case project can avoid risk or add more value
