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A pharmaceutical company with operations in the USA and in Europe wanted to implement value-driven portfolio management. Each country organization contributed to portfolio management but the process was neither standardized nor was it aligned such that a value-maximizing portfolio was the result of the portfolio review.
Bioscience Valuation worked closely together with senior management to develop an implementation plan that ensured 1) that portfolio management would meet the strategic objectives of the company, 2) that the process was standardized to allow comparison of assessments performed by different groups and 3) that the process would lead to a value-maximizing portfolio subject to some predetermined constraints such as budget.
After rollout of the implementation plan and a kick-off meeting, the portfolio management team was trained in moderating decision tree and marketing meetings. Analysts were instructed in the development of project and portfolio models. During the process Bioscience Valuation was first moderating the meetings and developing the models in close collaboration with the teams – as the teams became more and more professional Bioscience Valuation's role moved slowly towards coaching portfolio team members.
Bioscience Valuation ensured the involvement of senior management whenever it was deemed beneficial for the implementation process. After completing the assignment, the portfolio management process was well established, in line with the client's strategic objectives, produced valid and comparable valuations, and ensured that the selected project and product portfolio generated the highest value for the company.
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