Pharmaceutical Project Management Professional

Learning Mudra, Category - PMP


Growth Potential and pharma

Only if you were living under a rock you would not be knowing project management is one of the fastest growing fields in the world. And every year, 2.2 million project related roles come up and what data suggests is that till 2027 this number will not come down. In our view point this number will rise even after that to newer peaks. Project management is a field that is becoming increasingly relevant in every domain or field be it management, software development, automobile, construction etc. Possibilities are simply endless. But there is one field which seems quite odd among these. That field is pharmaceutical.

Relevance of project management in pharma

At this point many of us must be thinking why project management is relevant in pharmaceuticals which is a completely different domain and require little management. No, we are not trying to make a fool out of you. The truth is that pharmaceutical is one such field that requires and should have more project management professionals. The world is still only recovering from the pandemic and the vaccine is reaching different parts of the world. But the challenge is not over yet. Every country is in a race right now to come up with innovating ideas to solve problems of human body or any biological problem for that matter. And whoever wins this race, wins big.

What happens in pharmaceutical industry ?

Pharmaceutical companies generally have problems to solve. Problems which pertains to a massive number. Sometimes they are catering to needs of entire city, region or country. In a situation such as Coronavirus pharmaceutical have to cater to the entire world. We as a world have started to become more and more of a society. To tackle these problems adequate decisions and radical changes needs to happen in the field of pharmaceutical. They need an external stimuli and lifeline of project management to take the operations to the next level. Some of you must be wondering why pharmaceutical needs project managers. The answer is simple but complex. Let’s explore.

Real life examples of project management in pharmaceuticals

Let’s assume medicines are needed on a global scale and needed soon. And not making the right medicine will cost the billions of dollars. Millions of millions or billions of humans will be at stake if the wrong decision is made at any step of the way. One small error in judgement or management is all it takes to lead to a global medical catastrophe. Project management will enter as a player who will smoothen out the process, make it faster, make it less risky, and make it more suitable for the people. All this will happen while making good use of time and resources. Let’s explore these points.

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Pharmaceuticals and risk management

Making medicine at a massive scale is risky. Every step of the way researchers need to be cautious. One bad move and it all goes to waste. Which risk to take which risk to not? Project management will enter to give help with that question. Risk management is something managed through project management and this will help greatly in this field. Ascertaining different risks and assigning them priority. For example cost is a less risky thing but quality is high risk. You can incur most cost but quality should not be bad for medicines.

Increasing focus on important things

Then comes the regulatory issues that needs to be managed. People who are making the medicine should focus on things that matters more like making the medicine. They should give these tasks to project managers who will handle all the background regulatory work and arrange for other resources that will be needed to store the medicines. Moreover, project managers can go around and look for prospective investors. There are billionaires who are sitting to help as many people as they can and with pharmaceutical especially since it serves everyone.

Time and resource management

Project manager professional will ensure that timely work is done and for that they will do anything to create the environment needed to create and think. Moreover, they will help find innovative ways to limit the use of resources. Using less resources for doing same task means the cost reduces which further translates to more profits. Resource management is something that is not done in fields that have a lot of trial and error. Project managers can use their monitoring data and see which type of combination have least chance of success.

Trend in healthcare industry

It is to be noted that the cost of medical and healthcare has been on the rise and data suggests that in the next 10 years it will double. This is not a good picture. If we get into the field of pharmaceutical with project management, we can bring a storm into the industry and apply industry’s best standards of operations to ensure maximum and best output is received. Project managers ensure customer needs are fulfilled, their requirements are taken care of. So do not wait. Go search for jobs and roles related to project management in pharmaceuticals.

Take the opportunity

Pharmaceuticals will see project management infusion in coming years and healthcare system will then evolve around the world with the entry of project managers making the work even easier than it already is.

The Author : Learning Mudra


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