Every Pharmaceutical company invest a substantial amount of money in research & development activities, generally 3% to 8% of total sales turnover amount.
It is important that R&D activities should be managed in an efficient way, so that projects will be completed successfully in a defined timeframe with budgeted amount, but due to complexity of research work it is not easy. Generally it is observed that more than 60% projects in R&D dept. either goes beyond agreed timelines or completed with increased budgeted amount. This happens mainly due to non-professional managing of R&D activities.
In general the process of Project Management is not applicable for R&D due to complexities in research work. So, there is a need to manage Research Department with professional R&D Management to ensure timely completion of projects with efficient budget controls.
Novel Consultants team of experts has more than decade of experience in R&D Management and established R&D Management models in leading Indian & European Pharmaceutical companies. After implementation of R&D management model the productivity of R&D activities in these companies is improved substantially and got the major benefit in terms of timelines and reduced budgetary expenses.