KROMITE

KROMITE is the leading practitioner of Multiple Objective Decision Analysis (MODA) in the healthcare and life science industry. We use MODA to help clients gain clarity around decisions and derive valuable insights for decisions involving multiple conflicting objectives, and situations where the value of the assets cannot be quantified using traditional financial approaches (e.g. Net Present Value {NPV}, Internal Rate of Return {IRR}), and when transparency is critical. KROMITE has applied MODA to a wide range of problems, including prioritizing early stage pharmaceutical project portfolios where NPV is less credible but prioritizations must be made. KROMITE uses MODA as a framework to explicitly capture the objectives of the organization and distill them to specific metrics, which are measured for each project (e.g., "Differentiation" can be one measure for the organizational objective of Innovation). We use a systematic facilitation process and an analytical method supported by the Society of Decision Professionals as well as the Decision Analysis Society. Working with our clients, we develop definitions for each metric, establish the importance (or weight) for metrics and objectives, and develop value functions - all of which can be used to efficiently determine the value of each asset in the context of the overall objectives while taking into account risk and uncertainty. New insight can be gained by using MODA for resource allocation, project prioritization, portfolio optimization, and portfolio balancing. See "Deciding which Projects to Fund" for more details.