Decision Analysis & Portfolio Management for Biopharma Master Class


This class begins with well-founded Decision Analysis, economic and portfolio theory, and quickly moves to practical training in Decision Analysis and Portfolio Management using Excel add-in Decision Tree and portfolio optimization software.

Decision Analysis techniques learned in the master class can be used to facilitate Governance decision making under conditions of risk and uncertainty while economic and portfolio principles learned can be used during preparations and analysis for portfolio reviews and executive decision making right away.

Unlike other courses that focus on value creation and project prioritization, this master class utilizes a comprehensive approach to transparent, defensible decision making and portfolio value maximization using cutting-edge portfolio methodologies within a holistic portfolio management framework – CREOPMTM.

Learn how to shape the strategic and financial goals of your company by using compelling and actionable Decision Analysis and portfolio analysis to influence corporate decision-makers.


  • The CREOPMTM framework, a proven, step-by-step approach to positioning R&D portfolios for short-, medium-, and long-term success.
  • Categorize project and program investments into non-discretionary and discretionary buckets.
  • Analyze risk and assess overall probability of success.
  • Evaluate assets using four critical drivers – benefit, risk, cost, time.
  • Optimize portfolios to make the best use of constrained budgetary and human resources.
  • Prioritize projects using quantitative and qualitative decision criteria.
  • Manage risk, resources and stakeholders and improve decision making under conditions of risk and uncertainty.


  • Industry professionals from Pharma, Biotech, Medical Devices, and Consumer Care involved in:
  • Research
  • Clinical Development
  • Project, Program & Portfolio Management
  • Resource Management
  • Forecasting & Competitive Intelligence
  • Marketing
  • Licensing & Business Development
  • Finance

NOTE: Consultants are not permitted to attend.

Separate registration required. CHI requests that the Master Class not be interrupted once it begins. We ask that attendees commit to attending the entire program so as to not disturb the hands-on style instruction being offered to other participants.


Dr. Richard Bayney is President & Founder of Project & Portfolio Value Creation, a consulting boutique providing training and education in project, program, portfolio, resource, and risk management as well as client services in strategic, business, and portfolio planning. He is an adjunct faculty member at the University of Pennsylvania. Dr. Bayney is a 23-year veteran of the Pharmaceutical & Biotechnology industry at Merck & Co., Inc., Bayer AG, Bristol-Myers Squibb, and Johnson & Johnson Pharmaceutical Research & Development. He obtained his MSc and PhD from University of London, MBA from Columbia University, and PMP from the Project Management Institute. In his last corporate position, Dr. Bayney was Head of Decision Analysis & Portfolio Management at Johnson & Johnson Pharmaceutical Research & Development.


7:30–8:00 am Registration

8:00–9:00 am Session 1: Introduction – Agenda, background, and goals for masterclass; review of Decision Analysis & Portfolio Management survey

9:00–10:15 am Session 2: Decision making under risk and uncertainty – The value of decision framing and the Decision Quality cycle

10:15–10:30 am COFFEE/TEA BREAK

10:30 am–12:00 pm Session 3: Introduction to Decision Analysis and Precision Tree – A discipline oriented toward strategy selection on the basis of eNPV maximization under conditions of risk and uncertainty; calculating eNPV using Decision Trees

12:00–1:00 pm LUNCH

1:00–2:00 pm Session 4: Risk Analysis & Risk Management – Phase-dependent risk decomposition, value of imperfect information, SME risk elicitation, biases

2:00–3:30 pm Session 5: Deterministic integrated asset valuation – Structuring single- and multiple-asset Decision Trees to conduct project and program valuations and conducting sensitivity analysis

3:30–3:45 pm COFFEE/TEA BREAK

3:45–5:00 pm Session 6: Stochastic integrated asset valuation – Incorporating commercial uncertainty into Decision Trees with @ Risk and simulating ranges of eNPVs to select the dominant strategy


8:00–9:30 am Session 7: CREOPMTM – A holistic Portfolio Management framework oriented toward portfolio value maximization and capability maturation

9:30–10:15 am Session 8: Strategic, Portfolio, and Business Plans – The importance of actionable and interdependent strategic, portfolio, and business plans

10:15–10:30 am COFFEE/TEA BREAK

10:30 am–12:00 pm Session 9: Project prioritization – Searching for the best rank order of projects to create portfolio value within defined resource constraints using Multiple Objective Decision Analysis (MODA)

12:00–1:00 pm LUNCH

1:00–2:30 pm Session 10: Deterministic portfolio optimization – Searching for the best combination of projects to maximize portfolio value within defined resource constraints using linear programming

2:30–2:45 pm COFFEE/TEA BREAK

2:45–4:00 pm Session 11: Stochastic portfolio optimization – Searching for the best combination of projects to maximize portfolio value within defined resource constraints and incorporating commercial uncertainty using stochastic programming

4:00–4:45 pm Session 12: Decision Analysis & Portfolio Management Capability Maturity Models –Diagnosis of organizational Decision Analysis and Portfolio Management capability models

4:45–5:00 pm Session 13: Wrap up and final Q&A – Final questions and AOB

Submit a Speaker Proposal

For more details on the conference, please contact:

Bridget Kotelly
Senior Conference Producer
Cambridge Healthtech Institute
Phone: (+1) 781-972-5404

Program and Portfolio Management