76% Of Respondents Under Increasing Pressure To Improve Portfolio Management Efficiency -- Yet 87% Say They Lack Visibility To The Metrics Necessary To Achieve These Gains
Chicago, IL (PRWEB) January 22, 2010 -- ClearTrial (www.cleartrial.com), the leading provider of Clinical Trial Operations (CTO) software, today announced the results of a research study which assesses shifts in the demands on the portfolio management function at biopharmaceutical companies. The first phase of the two-part study that surveyed senior managers in portfolio management, corporate strategy, and clinical operations is available through the ClearTrial website at www.cleartrial.com/research/gap.
The study revealed the existence of a significant "operational gap" between long-range planning and project-level metrics – a gap that hampers informed decision-making. Fully 76% of survey respondents said they are under increasing pressure to improve portfolio management efficiency, yet 87% of those surveyed complained that they lack visibility to key project-level operational metrics for use in long-range planning and for proactively shifting portfolio direction.
Further defining the challenge the industry faces in long-range planning, two years ago only 7% of respondents had to manage to a 5% acceptable variance on their portfolio budget. Today that number has climbed to 33% of respondents, with 67% now needing to stay within 10% of target.
"You can’t fix what you can’t see," observed ClearTrial CEO Mike Soenen in assessing these findings. "How do companies expect to bring portfolio budgets within 5% or 10% variance if they don't have visibility to t
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