Controlling of Life Science Innovation
With increasing complexity and cost of life science innovation professional innovation project management following best practices has to be performed.
Today life science innovation can hardly be performed in house only. This is requiring different skills of project team members than in the past. Therefore a key success factor is also the right human resource management in life science innovation projects. Equally essential is the sincere involvement of the company management in life science innovation projects to show the commitment to innovation. As the success rate of life science innovation projects is low, a portfolio of different projects has to exist. Criteria for setting up such a portfolio have to cover market, strategy and availability of resources. The same criteria can be used for the controlling of the projects by clustering them in the categories attractiveness and competitiveness. Support can be given to life science companies in the establishment of systems to optimize the ROI of investments in life science innovation.