The nature of projects and outsourcing today is composed of complex global projects managed by virtual teams and project variance. Outsourcing strategies and project variance leads to cost variation within a budget which usually is unaccounted for. Completing projects on budget can be achieved by managing four core domains: assumptions, your team, risk, and the “system”. Here is how ArithmosCentrum can help CRO Project Managers.
Planning and Forecasting
Effective and accurate planning is the first step towards successfully completing a project on a budget. Assumptions on units, resources, quality systems and technical requirements are often forecast by one party and left to another to deliver on. Knowledge management is a must. The planning phase also include risk management and communication planning.
AC allows the Project Manager to work directly with the Business Development Manager to learn the customer’s requests. Once a Project Plan is complete, the BDM is notified and can review costs and timelines. The Financial Officer is then automatically notified that a budget needs to be created.
Controlling and Monitoring
The Project Manager should be able to answer the following questions when it comes to study metrics and reporting:
- What will be measured?
- Why and how will we measure these metrics?
- What are the results telling me about the status of this study?
AC allows the Project Manager to create custom reports and a customized dashboard to follow the study metrics important to each project.
Communication is essential to collaboration and team performance. The Project Manager is the leader of any project and needs to be able to communicate with the team: BDMs, Financial Officer, Human Resources and operations.
ArithmosCentrum allows the Project Manager to communicate in an automatic way by sending alerts when certain tasks need to be completed. AC can also produce reports when projects are running off course in terms of resources, timelines or costs so the Project Manager can communicate with the right people.
Using ArithmosCentrum, the Project Manager can always be sure a project is staying on budget. The system automatically tracks resource planning and costs per unit or hourly rate, and the Project Manager is alerted when the budget is overrun.
Here are the inputs/outputs for the AC Project Management function: