Expertise

Our Approach

KROMITE uses a systematic facilitation process and analytical methods supported by the Society of Decision Professionals as well as the Decision Analysis Society. Building on the fundamentals of Decision Science, we can help you frame your decision, generate and analyze creative alternatives, and manage risk in order to align your decision with your key objectives. This short Intro to KROMITE gives a graphic overview of our team's experience and approach. 

We believe that every decision maker has rights:

The Decision Maker's Bill of Rights

  • A decision frame that structures the decision in the context most relevant to your needs
  • Creative alternatives that allow you to make a selection among viable and distinct choices
  • Relevant and reliable information upon which to base your decision, including the uncertainty of the information
  • An understanding of the potential consequences of each alternative based on your choice criteria
  • A logical analysis that allows you to draw meaningful conclusions from the information to reach clarity of action
  • Effective facilitation to gain alignment and commitment to action

Created by the Society of Decision Professionals

What are your biggest frustrations with decision making at your company?

If you are trying to find solutions to some of these frustrations, give us a call.

 

In The News

Jack Kloeber, principal of KROMITE, was recently interviewed by business reporter Crissa Shoemaker DeBree, Bucks County Courier Times. Please see article "Business Helps Make the Tough Decisions" and video "Making the Hard Business Decisions", which explain how Jack and the KROMITE team help pharmaceutical companies and others make decisions. 

 

 

Technical Material

Case Studies & White Papers

Case Studies
Tough Decisions in the Pharmaceutical Industry:
  • Assessing Risk and Value of a Project with Multiple Options
  • Accounting for Uncertain Target Product Profiles (TPPs) of the Competition
  • Assessing an In-Licensing Opportunity

White Papers
Deciding which Projects to Fund:
  • Using Value Focused Thinking in Pharmaceutical Decision Making
Horses for Courses:
  • Portfolio Management Methods for Different Stages of Drug R&D

Publications

Portfolio Decision Analysis: Improved Methods for Resource Allocation
Authors: Jeffrey Keisler, Jack Kloeber, Alec Morton, Ahti Salo, et al.
Portfolio Decision Analysis: Improved Methods for Resource Allocation provides an extensive, up-to-date coverage of decision analytic methods which help firms and public organizations allocate resources to "lumpy" investment opportunities while explicitly recognizing relevant financial and non-financial evaluation criteria and the presence of alternative investment opportunities. In particular, it discusses the evolution of these methods, presents new methodological advances and illustrates their use across several application domains.

In the pharmaceutical industry, for example, the R&D, regulatory, and marketing process bring distinct challenges in timing, risk, opportunity, compliance, and cost structure of Portfolio Management. In Chapter 13 "Current and Cutting Edge Methods of Portfolio Decision Analysis in Pharmaceutical R&D," Dr. Jack Kloeber, principal of KROMITE, provides an extensive, up-to-date discussion of different decision analytic methods as they best apply to pharmaceutical R&D portfolio management. Here is a look at a few critical concepts:
    
  • Cutting Edge Methods in Portfolio Management
    An overview of concepts and methods of Portfolio Decision Analysis in context
  • Combining Multiple Objectives
    Multiple objective decision analysis (MODA), a methodology growing in popularity within PDA of discovery and early development portfolios
    See "Deciding which Project to Fund" for more details.
  • Project vs. Portfolio Objectives
    A major theme throughout this chapter is a focus on portfolio objectives, rather than project goals, values, and risks. So many companies still focus their analytical efforts on project level valuation and prioritization, missing chances to help the organization meet portfolio level goals, fill company level gaps, and help leaders conduct portfolio level risk management.
  • Horses for Courses
    Different PDA methods may be more appropriate in one sub-portfolio (such as the Discovery portfolio) than others (such as the Late Development portfolio). See "Horses for Courses" for more details.

In summary, maximizing value, managing risk, and aligning decision making with company values requires an integrated portfolio management process – This is KROMITE's strength.

Kloeber, J, (2011) "Current and Cutting Edge Methods of Portfolio Decision Analysis in Pharmaceutical R&D". In Portfolio Decision Analysis, International Series in Operations Research & Management Science, Volume 162, Part 3, 283-331




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