Carmel, IN — The Metrics Champion Consortium’s (MCC) Vendor Oversight Work Group has published its first set of portfolio-level metrics designed to answer high-priority vendor performance questions related to achieving timeliness goals. Specifically, the five performance metrics report whether 10 study milestones are achieved by established milestone dates. The group explored different data aggregation options and decided to define metrics that help answer the following Key Performance Questions:
- Are milestones being delivered “on-time” across active studies?
- Are milestones being delivered “on-time” across studies over a three-month period?
- Are milestones being delivered “on-time” within each study phase (start-up, conduct, closeout)?
“The new consensus-based portfolio-level milestone metrics represent a significant expansion of MCC’s extensive catalogue of metric definitions,” said Linda Sullivan, Co-Founder & President of MCC. “The MCC Vendor Oversight Work Group defined 10 study milestones and considered the pros and cons of different metric aggregation models when developing the metric set. We look forward to the release of additional portfolio-level vendor oversight quality, cost and relationship metrics in 2018.”
Additionally, the group defined four performance metrics measuring the timeliness of SUSAR reporting.
Each metric definition includes 15 components, including metric formula, data definitions and performance targets. MCC members are invited to visit the member portal to download the metric toolkit.
The Vendor Oversight Work Group is now exploring options for measuring sponsor/vendor relationships.
Two White Papers detailing the Vendor Oversight Work Group’s metric development process and the group’s overall approach are now available to download on the Vendor Oversight Work Group page on the MCC website.
To view the press release in a PDF format, click here.
About Metrics Champion Consortium
MCC is a trusted partner in the clinical trials industry to identify what to measure and assess the critical components of what is changing and how the industry is responding to address the changes to make improvements. We continually bring you new insights into the leading trends within the industry. For more information, please visit www.metricschampion.org.
MCC Marketing Manager
(317) 622-0266 ext. 110