Part 1- Framing the Project Portfolio Management Problem 1. What are the objectives? The objective is to research and develop pharmaceuticals products based on the selections that minimize cost and maximize value and sales. There will be a discussion of which projects will be allocated additional resources and at what cost. 2. What are the constraints? Competition is usually between brand-name drugs. Constraints for the study include risky drug discovery and development which could cause harm to participants and also waste money used on development. Other restrictions include the amount of time spent on Research and Development which leads to increased costs. There is also the concern with low return on investments and the emergence of generic drugs and competitors. 3. What are the risks involved? There are both technical and commercial risks involved. The most risky aspect of the project is within the research and development process. Drug discovery and development is extremely risky, time-consuming, and expensive. Millions of dollars are spent in the R& D process and many of the drugs created do not make it past the Basic Research stage. The risks associated with low return on investment or no return at all on the investment pose a big risk for pharmaceutical companies. 4. What are your alternatives? The company can choose to allocate resources to other projects or services besides pharmaceutical drugs. There are possible lines extensions in the areas of cardiovascular therapy, immune disorder and inflammation franchises, General Practitioner products, as well as LCM and NME projects. 5. Information required for Project Portfolio Management and how can it be collected? XYZ needs all independent research and development projects including their cost. Technical success probability. Projected launch year, pre-launch cost, return on investment and