【文章內(nèi)容簡(jiǎn)介】
fail?Succeeded:Correctly recognized the importance of crossproject effects in structuring portfolioDeveloped the necessary anizational structure (., 3 tier structure at GSK)Failed:Risk has not received sufficient attention, ENPV is the most monly used metric.No rigorous portfolio evaluation process and optimization model exist.June 48, 2023 10From Pipelines to PortfoliosResearch ObjectivesUnderstand how risk and expected reward change as the nature of a pipeline changes.Today: How Phase III variance and expected reward change as the degree of correlation changes– Indication level– Area levelDevelop optimal portfolio, given a certain managerial objectiveToday: An application for GlaxoSmithKline (GKS)’s Phase III subportfolioJune 48, 2023 11From Pipelines to PortfoliosIndication Level ScenarioScenario: One indication with two approaches, whose success is conditional on overing a mon obstacle Indication 1 Approach 12 Approach 11 p1: joint probability of overing the mon obstacle in Phase III AND other obstacles related to Phase IIIp1i: probability of overing the mon obstacle related to Phase IIIJune 48, 2023 12From Pipelines to PortfoliosIndication Level – Some Insights (RiskReward)VarianceExpected RewardVarianceExpected Reward Case 1. Low p1 Case 2. High p1As p1i increases, both variance and expected reward at Phase III increaseAs p1i increases, variance decreases and expected reward increases at Phase IIIJune 48, 2023 13From Pipelines to PortfoliosArea Level ScenarioScenario: One area with two indications, each indication with two approaches. The success of any approach is conditional on overing mon obstacles at both area and indication level.Indica