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Learn how to use quantitative risk analysis (QRA) and risk modeling to improve decision-making in the drug development process from early drug development to clinical trials. For an article discussing the applications and benefits of using QRA and risk modeling in the pharmaceutical industry, read the following paper that EpiX Analytics co-authored for the magazine of the American Association of Pharmaceutical Scientists here.
– Understand the most important modeling techniques, methods (including Monte Carlo simulation) and software tools available to perform and interpret risk analyses in the drug development process;
– Learn and practice key risk analysis techniques that will allow you to support more informed and better decisions making in pre-clinical stages as well as clinical trials.
– Gain expert insight from EpiX Analytics; a world renowned risk analysis consultancy and training company with vast experience working with the nation’s top pharmaceutical companies as well as numerous smaller, more specialized pharmaceutical (branded and generics) firms.
Decisions made throughout the entire drug development and commercialization process are fraught with uncertainties. Quantitative risk analysis (QRA)—also called stochastic modeling, risk modeling, or quantitative risk assessment—aims to improve decision making by taking into account variability and uncertainty and providing insight into probabilities related to decisions.
The Risk Modeling in Drug Development course will be beneficial for all analysts, scientists, managers, and consultants involved in the pharmaceutical industry who would like to gain a greater insight into how quantitative risk analysis can improve decisions in drug development from pre-clinical stages to clinical trials.
Previous risk modeling experience is helpful, but certainly not necessary. The course is designed to be beneficial for both experienced and non-experienced Excel and risk modelers.
Participants will be primarily using Crystal Ball (by Oracle, v 7.0 or newer) or alternatively @Risk (by Palisade, version 5.0 or newer) together with Microsoft Excel to solve the exercises. However, participants can also choose to use another Monte Carlo package of their choice.It is important that participants have basic working knowledge of Excel. However, no prior experience using Crystal Ball/@RISK or other simulation tools is required. Trial versions of @Risk can be found from Palisade’s website here and trials of Crystal Ball can be downloaded from Oracle’s website. As the trial licenses last 15 days, participants should install it only a few days before the course. In addition to Crystal Ball and @Risk and MS Excel, participants are required to bring laptops with Microsoft Word and PowerPoint installed.
In case participants prefer to use a particular software package, please let us know and we will make all example models and exercises available in the relevant software package.
The course runs from 09:00 to 17:00 each day. Morning and afternoon coffee, and lunch are provided. Optional evening workshops on the first and second days allow extra time for running through example models and exercises.
ModelAssist is a comprehensive risk analysis training reference and is free of cost. This reference tool provides an in-depth explanation of all of the risk analysis concepts, techniques and methods introduced in this course and greatly complements the course material. ModelAssist can be downloaded or accessed directly from our website.
All of our courses aim to help the participants understand risk analysis from the bottom-up, which is achieved through a relaxed, informal and interactive environment, using plenty of examples and hands-on exercises where students apply and adapt what they have learned.
Our training courses provide an opportunity to develop or extend your professional network. We therefore arrange optional fun, interactive social events which take advantage of local attractions, cuisine, and culture. All social events are included in the course fee.
Course participants must arrange their own accommodation. However, we will be happy to provide information and alternatives for your travel arrangements. After you complete your registration form, please let us know that you will need our help.
Please contact us to obtain a code for the discounts below, or to discuss a special rate when registering 5 or more people. Discounts for groups of 3 or 4 people are applied automatically at registration. Discount rates cannot be combined.
* Early registration – 10% off registration (register and pay 30 days before course start date)
* Government/Academic – 5% off registration (Proof of eligibility requested after registration)
* Student – 25% off registration (Proof of eligibility requested after registration)
Use our contact form if you are interested in a course not currently in our schedule.