A global pharmaceutical company’s R&D department was looking for a more streamlined and less time-consuming approach to accurately calculate and forecast cost analysis for projects. The current process included using digital PPM tools, while they allowed to perform forecasts, the cycle time to get the projections for one project or study is days and sometimes weeks. This was mainly due to the amount of granularity at which these tools require data to be filled in to get a decent forecast

This led to a lot of deliberations to fill in all the requirements, which was a tedious and time-consuming process for the project managers and the central project planning team. This process also affected their project plans, since they had to go through multiple days of filling in forms just to get a single project cost forecast causing unforeseen delays.

They were looking for a PPM and AI expert who has an understanding of both life sciences project management as well as expertise in building a predictive method that can minimize inputs and gives accurate forecasts within minutes.

After careful analysis of the current systems and practices our team of data experts designed a plan to build a predictive model which requires less information intake and give accurate predictions within a few minutes.