Research On Risk Management Of New Drug R&D Project

Medicine has been the most develop industry in China since the reform and open policy began. If our medical enterprises want to boost the competitiveness in the industry, they must develop the new drug to seek bigger living space. Due to the features of large input and long development period and advanced technology in new drug R&D field besides the characteristics of normal project, it brought big challenge for risk management. More and more companies began to take care of effective risk management.Project risk management in new drug R&D mainly controls the risk in the process of new drug R&D according to identifying and evaluating the risk. From those jobs, we can increase the success ratio.The research shows that from now on there haven't been so many theories and methods in risk management of new drug R&D. It mainly reflects in the difficulty in risk identification and the error of analyses and the correctness of the analysis tools. According to these problems, in the process of risk identification, this article used the method of work break structure to identify all the risks combined with life cycle of new drug development. It avoided the error of incorrect identification. At the same time, in the process of risk evaluation and quantification, we used the principal components analysis, which is used in risk management for the first time. We also used the case to prove it and from which we brought the settlement. At last, this article designed the process of risk management in new drug R&D, and built the comprehensive management model of risk management. So the researchers can start the risk management in the early time according to the model. In the end, we gave some suggestions that we can do some work in the future time.