How SmithKline Beecham. Makes Better Resource -. Allocation Decisions by Paul Sharpe and Tom Keelin. Reprint Harvard Business Review. “How SmithKline Beecham Makes Better Resource Allocation Decisions”. by Paul Sharpe and Tom Keelin. In this paper, former SDG consultant Tom Keelin and. R11 Sharpe & Keelin, , “How SmithKline Beecham Makes Better Resource- Allocation Decisions,” Harvard Business Review, Vol. 76, No. 2, pp.
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An often-quoted paper by Sharpe and Keelin, back inreported how managers at GlaxoSmithKline redesigned their portfolio selection process.
How SmithKline Beecham makes better resource-allocation decisions.
They were unhappy that it had become politicised, as strong-willed project leaders competed for resources for projects that only they fully understood. The process was seen as neither efficient nor objective.
The improved approach had three phases:. The first was to ask teams to make not one but four proposals: In the second phase a common set of resource-a,location was compiled about each project with the help of consultants and colleagues inside and outside the project.
Valuations were produced using decision trees and resulting in an upper and a lower valuation for each project rather than a single-point valuation.
These valuations were reviewed and debated by the selection panel until everyone was content. In the third phase the portfolio was selected by an independent internal consultancy group who then presented it to the selection panel for review.
Resource-aloocation selection panel could now concentrate on the portfolio debate, without getting drawn back into valuation issues.
The process is reported to be very successful. The careful and open valuation process was accepted as fair and the new portfolio projected a 3-fold improvement in return on assets. Portfolio management at GlaxoSmithKline.
The improved approach had three phases: Read the full article: Previous Post The other side of innovation. Next Post Transferring new ideas from research to pract Learning from the past: Resources Portfolio Management techniques. Related Posts Portfolio Management techniques.
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Portfolio management at GlaxoSmithKline | R&D Today
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