Project Management Essay Example | Topics and Well Written Essays - 2000 words - 7

Project Management - Essay Example However, one has to consider that this figure would be changed by U.S. figures after product launch, if that is still on the agenda. Since we have no cost figures, this question really cannot be answered in concrete terms with any semblance of accuracy. However, certain less tangible benefits are certainly present. The company has a great deal to learn from closely examining the whole process of development of this project. I would certainly recommend that a thorough post-mortem be done using a group created for that purpose composed of a team of experts in all phases of pharmaceutical project development, and that post-mortem be used to examine the current cancer drug development process for parallel problems before releasing that drug, even though there would be definite differences concerning the fault tolerance, since the purpose of this drug is to cure disease, a considerably higher level of need than mere pain relief. One should remember that while the end may justify the means, the opposite is also true. When the end does not carry a high level of justification, perhaps the means would be more carefully sc rutinized. The desired end in both projects, and all others in the industry is when all is said and done, profit. In order for any pharmaceutical to be profitable, the revenue must outweigh the cost of development and there is no evidence that this is yet so for Painfree. The Painfree Project suffered from several major problems caused by not following the best practices in project management. 1The best practices for project management require that careful planning be done and documented from the beginning, and one person should be responsible for overseeing and managing communications and documentation. The aims and scope of the project should be clearly outlined and all phases must be monitored by some individual or group responsible to corporate and not