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Pharmaceutical R&D Pipeline Planning

In: Handbook on Project Management and Scheduling Vol. 2

Author

Listed:
  • Matthew Colvin

    (ASPEN Tech)

  • Christos T. Maravelias

    (University of Wisconsin)

Abstract

The development of new drugs is a long and expensive process with multiple sources of uncertainty and complex trade-offs. In this chapter, we discuss how multi-stage stochastic programming (SP) methods can be used to develop tools for decision-making in this sector. First, we present a basic model for the stochastic resource constraint project scheduling problem we consider in this chapter, we discuss extensions for features such as outlicensing and outsourcing, and present modeling methods for risk management. Second, we review theoretical results that allow us to formulate tractable SP models that account for endogenous observation of uncertainty. Finally, we discuss solution methods that allow us to address realistic instances and present two examples.

Suggested Citation

  • Matthew Colvin & Christos T. Maravelias, 2015. "Pharmaceutical R&D Pipeline Planning," International Handbooks on Information Systems, in: Christoph Schwindt & Jürgen Zimmermann (ed.), Handbook on Project Management and Scheduling Vol. 2, edition 127, chapter 0, pages 1267-1287, Springer.
    • Handle: RePEc:spr:ihichp:978-3-319-05915-0_27
    DOI: 10.1007/978-3-319-05915-0_27
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