Biopharmaceutical R&D stands at a crossroads. Escalating development costs, persistent clinical attrition, heightened competitive pressures, mounting regulatory complexity, and uncertain commercial rewards have made "doing more with less" an inherently flawed strategy for success and sustainability. This one-of-a-kind book reframes the conversation, arguing that the true objective is not simply value creation, but value maximization under risk and uncertainty. By integrating decision analysis with enterprise portfolio management, it provides leaders with the intellectual and operational foundation required to make defensible, high-stakes investment decisions across drug discovery, clinical development, regulatory approval, and commercialization.
Grounded in decades of real-world experience, the book builds on CREOPM, first introduced in 2012, as a pragmatic and maturity-sensitive framework designed to embed analytical rigor, strategic clarity, and disciplined governance into the fabric of R&D organizations. Moving beyond weak data gathering resulting in single-point estimates and deterministic scorecards, it demonstrates how probabilistic modeling, efficient-frontier thinking, and integrated evaluation can transform portfolio construction from reactive budgeting to systematic value optimization. The result is a comprehensive roadmap for organizations seeking sustained competitiveness, transparent decision lineage, and measurable performance improvement in complex Biopharma environments.
Key Features :
Reinforces the applicability of CREOPM, a modular enterprise framework integrating categorization, risk analysis, evaluation, optimization, prioritization, and governance
Applies efficient frontier principles from financial theory directly to Biopharma R&D portfolio investments
Provides decision-tree–based valuation models using probabilistic metrics such as eNPV, eIRR, and utility-adjusted value
Distinguishes operational execution risk from intrinsic scientific and clinical uncertainty and shows how to model both rigorously and defensibly
Bridges the gap between decision analysis experts and executive governance committees with structured, traceable methodologies
Designed for a broad audience, including portfolio practitioners, financial stewards, executives, strategists, entrepreneurs, and graduate-level students
WAV features figures too large and complex for the printed book and a bonus Chapter 11 on the Probability of Technical and Regulatory Success (PTRS) by Simon Larsen–- available from the Web Added Value Download Center at jrosspub.com/wav
