Process development
Redefining a global medical device companies medical device companies opportunity assessment process

This project utilised the API platform
Scope:
Global
Therapy area:
N/A
Client:
Top 10 medical device manufacturer
The Challenge
The client required support with rapidly and transparently identifying and evaluating a number of business development opportunities, and developing a sustainable process for rollout throughout the company
Project objectives
•Understand the current opportunity assessment process within the company, including strengths and limitations

•Reshape the due diligence templates and processes to support successful internal decision making

•Develop transparent criteria for decision making, incorporating supporting evidence and clear assumptions

•Empower team members within the business development process to understand the rationale and justification for business development decisions
Approach
•The process involved an initial workshop with key internal stakeholders to discuss the current process and criteria for decision making

•The existing process was critically appraised and redrawn to establish a key criteria list for assessing potential business development opportunities

•Relevant criteria for opportunity assessment were weighted through a collective team exercise to determine relative importance

•Following the establishment of the weighted criteria new templates were derived to fit with staging meetings internally with each template explicitly linking back to the value criteria
VALUE DELIVERED
•The client team was empowered to make transparent decisions regarding business development opportunity identification and assessment

•The process has supported a clear, consistent output within the business development team, allowing multiple potential opportunities to be graded and evaluated against one another

•This has increased both the quantity and ‘quality’ of business development opportunities pursued by the company