Development of a benchmarking framework for pharmaceutical capital projects

Benchmarking is a proven technique for improving project performance and, as such, is a critical component of any mature project delivery system. Competitive benchmarking requires industry-specific metrics in absolute terms since processes vary by industry, and any metrics used within a single industry must be attuned to its particular processes. A framework is developed for evaluating pharmaceutical capital facility projects using metrics specific to the characteristics of these unique projects. Establishment of the framework made possible the development of a set of industry-specific metrics and a flexible data collection and reporting system for measuring project performance. Preliminary findings from an initial sample of 40 pharmaceutical projects confirm that meaningful industry-specific metrics can be produced for pharmaceutical capital facilities benchmarking. Developing such a framework enables the industry to measure project performance more accurately, get meaningful project performance comparisons, and ultimately establish credible norms for project performance.