For a Project Manager, working in Life Sciences is difficult as the process is lengthy, the compliance thresholds are tight, and the margins for a product to make it to market high-risk. Not to mention the competitive landscape within this sector.
Project Managers (PMs) are resource handlers that move within 6 process groups, initiating, planning, executing, monitoring and controlling, and closing, they are the lifeblood of the process.
A PM will require periodic sets of information to measure project performance throughout the life time of a project. The KPIs will consist of work progress, compliance checks, budget, time and resource allocations, spillage and much more.
From drug discovery through to FDA approval, developing a new medicine on average takes at least 10 years and costs £2 billion. Less than 12% of the candidate medicines that make it into phase 1 clinical trials will be approved by the FDA and the cost of a product being late to the market can be upwards of £760 million per day.
With a cost of £760 million per day for being late the consequences are high!
At Hark, we are proud to provide a quick win for the PMs working in the pharmaceutical industry. The rapid deployment of an integrated platform such as Hark enables improvements to be realised in time, cost and quality.
Our system benefits the PM throughout the life cycle of your product by collating data received from all installed sensors and providing real-time analysis with automated reports.
The FDA and MHRA impose stringent policies on audit trails and data integrity. Significant time can be lost in ensuring this data is successfully logged and then collected/compiled into a manageable format for the auditor.
Each step of recording, storing and analysing data uses valuable time, not to mention creates opportunities for human error by the PM or anyone else in their team.
By installing Hark to monitor everything that uses a sensor, the PM can have instant access to the necessary information and gain real-time insights, impossible to produce from local site data logging.
Over the 10 years of a drug life-cycle vast amounts of money can be saved due to the cumulative effects of improvements in process efficiency and the avoidance of late costs.
If you’re interested in refining your processes by implementing our system, please get in touch to book a demo today.
