Strategy and Project Management in the Academic Setting

What best practices from industry can be applied within the academic

setting?

Industry and Academia Have Differing Goals and Metrics of Success

• Industry focuses on translation and products - scientists pursue tangible entities (validated targets, novel molecules, biomarker assays) • Measure of success : $$$

• Academia focus basic research knowledge creation though basic research and dissemination of knowledge• Measure of success : Tenure

Principles of effectiveness in managing project progression apply equally in both settings – project advancement is fundamental to both

Science is a Team Sport in Industry

• Many disciplines and functions are need to move projects forward (eg. Chemists, biologists, toxicologist, pharmacologists, engineers, manufacturers, lawyers, marketers)

• Highly effective use of multiple resources serves the purpose of translation

• In contrast there are incentives (getting tenure) for academics to lean towards individual research in order to substantiate significant impact

A Multidisciplinary Approach Can Be Dilutive to Your Perceived Impact

Consider how to bring additional expertise to your project (collaborators, consultants, contractors) especially If you are translationally-oriented

Principles of Project ManagementPhases of Project

ManagementCornerstones of Effective

Project Management

Initiation

Planning

Execution

Monitoring

Closing

Milestone-based

Accountability

Managing Risk

Initiation & Planning of Projects

• Assemble team (think about external experts!)• Identify goals, establish milestones/aims• Create a project plan (simple or detailed)– Specific project activities & tasks– Timing of activities– Interdependencies among work streams– Cost– Important milestones

Detailed Project Plan and Timeline: Microscoft Gantt Chart is an Industry Standard

Simplified Project Plan and Timeline Modeled After Gantt Chart (NIH)

Coulter Project Activities

Prototype Pacemaker Design and

Manufacture

Rabbit implant technique

pilotedFetal sheep model study with

optimized device (without recharging) (Coulter)

Quality System Development

Patents Prosecuted in US and Canada & new IP under review

Reports

<Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q4 13 Q1 14

NIH R01 Application

8HUD

Designation Obtained

Electrical output tested

Publication

Design and fabrication of external recharging system (CTSI Funding)

Build device with internal charging coil (Coulter)

Fetal sheep studies incorporating external

recharging system (R01)

Go/No Go

Funding

conversion

AHA Meeting

Press Release

+ oral + oral

High Level Project Plan and Timeline

Accountability

• Regularly scheduled team meetings• Create agendas for team meetings and follow

them• Team meeting minutes with ACTION ITEMS

assigned to team members• Review ACTION ITEMS at next team meeting

to ensure they have been completed• Careful tracking of documentation/data

Managing Risks• Identify risks and have

some form of mitigation for these risks

• Supplement your team with complementary skill sets

• Formulate endpoints and pivot if necessary

Build optionality into your project plans and make adjustments to your research direction as you build your information base

Some Important Issues for Academic Laboratories You Need to Think About

• Research data retention• Research data organization and storage• Industry utilizes electronic laboratory notebooks and has extensive

infrastructure to support capturing work product, data, and inventions

Problem: data walking out the door Solution: centralized data management

Central Desktop • Electronic Filing System for Documents &

Data• Functionality for Tracking Project Plans &

Timelines• Reporting and Monitoring• A Collaboration Tool

Data Management Tools

Central Desktop Dashboard

Best Practices from Industry that Can Be Leveraged by Academia in Managing Your Projects

Defined milestonesDefined project needs / resourcesMapping of timelinesTeam building with complementary team skills Data management and storage

Principles of effectiveness in managing project progression should apply equally in both settings – project advancement is fundamental to both