Elements of an Effective Project Management System

There is an increased sensitivity in the pharmaceutical industry towards an informed view of the status of each project and towards a realistic estimate of the completion date and total cost of each project. The methodology for a formalized project management system includes development of a resource breakdown structure and a work breakdown structure before developing an estimate and a schedule for the project. Having planned a project fully, the management team will be able to deal with all the inevitable but unpredictable changes that occur during the course of a project and to have a clear view of the total cost and duration of the project during its life cycle. Addition of computer-aided software will be successful only if a successful formalized administrative project management system is already in place.