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AcelRxPharmaceutical1.docxRunning Head: ACELRX PHARMACEUTICALS INC 1
ACELRX PHARMACEUTICALS INC 2
Instructions & Paper from Last Week’s
Choose an organization as the focus for a Project Proposal. The organization can be an existing company, nonprofit organization, religious organization, or governmental agency. Avoid an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000® index may fit well, whereas firms in the Dow 30 Industrial index probably do not.
Select a project that you would expect to occur within this organization for which you will be writing a proposal. Project proposal examples include but are not limited to the following:
· Implementation of a new hiring process
· Construction of a new office building
· Development of a new software system
· Roll out of a new product or service
· Use the Internet to find a project plan template that is appropriate for the project plan you wish to propose.
Write a few brief paragraphs to justify selecting this organization. Include the following:
· The organization’s name
· The purpose for this organization’s existence
· Why this organization is of interest to you
· A description of the project and its relationship to the organization’s business objectives
· Availability of organizational data: Avoid selecting an existing organization for which there is no publicly available historical data.
AcelRx Pharmaceuticals Inc.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company that was founded by Thomas A. Schreck and Pamela P. Palmer on July 13, 2005, its headquarters is located in Redwood City, California (“Innovative Therapies for Acute Pain,” 2017). It takes part in the enhancement and commercialization of inventive remedies for the treatment of moderate-to-severe pain. Its main product line comprises of DSUVIA, and ZALVISO (Johnson, 2017). All drugs that are made by this company are regulated by the Food and Drug Administration (FDA) and have been approved for sales and distribution to retailers, hospitals, and clinics. DSUVIA is set to be approved on the 12th of October 2017 (House, 2017).
This organization serves to eradicate the problem faced by patients with a muscle injury, arthritis, pain after surgery and other severe injuries that may cause discomfort to the body. This in mind, the proposal sets out to make it easier for the organization to distribute their drugs at affordable rates, by setting up a commercial website where the stakeholders, the retailers, the staff and the public have transparency through sales made. The main aim of the proposal is to make the drug accessible to all but comes with a limiting factor to the consumer and the retailer. In mid-June, the ACRX stock was trading in the mid-$two range, closing as low as $2.05, thus being highly undervalued (Orelli, 2017). After analysis the company's drug pipeline and the products offered were on a potentially high demand, outweighing the downside. The stock shares are expected to rise to over $10, which totals to a 300% profit for shareholders (Orelli, 2017).
AcelRelieverXP
Goals and Objectives
To develop software that helps commercialize innovative treatment methods that relieve acute pain.
Overview
The project, AcelRelieverXP, sets out to create ease of mobility, such that patients can have their drugs delivered in the comfort of their homes, retailers are assured of quality drugs straight from the company through reliable delivery services that have been thoroughly vetted by the board.
Project background and Description
Today, owing to the advancements involving modern technology around the world, there is a growing need to make work easier by applying these developments. As such, the software serves as an online drugstore, whose performance is regulated, monitored and evaluated by the organization itself, as a way of boosting transparency with stakeholders. This is done by every transaction made between the organization and the general as administrators. The page comprises a database where records of what has been sold from the warehouse and the current stock can be traced easily.
The retailers’ database comprises of the drugs in stock at the warehouse and the delivery status of the drug they desire to buy. Their account is set up by the organization after validation of legal documents is done. Purchases are made at a wholesale price from the organization. The consumer sets up his profile, and after verification, the consumer gains access to the database. The consumer has to follow a protocol such as identity verification for their requirements to be filled to their specifications. This is to prevent drug users from exploiting the drugs for harmful purposes.
Project Scope
The main objective of AcelRelieverXP is to make purchasing of prescribed pain medication easier for consumers and retailers, without the fear of receiving counterfeit medication, overexploitation, and fraud.
High-Level Requirements
The producer and the retailer must be approved by the FDA and equivalent licenses present in the software database. All retailers must have a Board of Pharmacy license and a certificate of completion from a recognized medical institution.
Deliverables
Improved market strategies, improved recognition, improved transparency, consumer satisfaction, reduced delays, increase in market demand, and increased participation of shareholders.
Affected Parties
Shareholders, the board of directors, the FDA, pharmacies, hospitals, clinics and the general public.
Affected Business Processes or Systems
Everything will be done digitally, meaning the number of staff in the company will increase.
Specific Exclusion from Scope
The Software is only available in the United States of America.
Implementation Plan
The project is to be implemented in four phases. The first phase includes setting up of the database in the organization and training of staff of how to use the database. The phase will also include identification of qualified retailers and relevant training on how to use the retailers’ database. The second stage will be the launch of the retailers’ database. The intermediary phase would be monitoring the success of the launch to see how retailers and the warehouses adopt to the system and correct any glitches that may arise. This phase also involves a control test between the retailers and a selected population from the public, as a control; to test if the retailer-consumer system is functional. The final phase is the launch of the system to the general public so that they can access the database and begin making their orders.
High-Level Timelines/Schedule
The project duration is 18 months where the first 12 months would be used to put the system into effect between the company and the retailer. The remaining six months would be the duration used for the scheduled control test. After the period has elapsed, the organization now has the mandate to launch the program to the general public.
Approval and authority to proceed
We approve the project as described above, and authorize the team to proceed.
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References
House, D. (2017). FDA action date tomorrow for AcelRx Pharma's pain med Dsuvia; shares up 1%. Retrieved 11 October 2017, from https://seekingalpha.com/news/3300459-fda-action-date-tomorrow-acelrx-pharmas-pain-med-dsuvia-shares-1-percent
Innovative Therapies for Acute Pain. (2017). Aclerx.com. Retrieved 11 October 2017, from http://www.acelrx.com/pipeline/index.php
Johnson, D. (2017). AcelRx Remains An Attractive Buy After Strong Run. Retrieved October 11, 2017, from https://seekingalpha.com/article/4112682-acelrx-remains-attractive-buy-strong-run
Orelli, B. (2017). Why AcelRx Pharmaceuticals Inc Jumped Higher Today. The Motley Fool. Retrieved 11 October 2017, from https://www.fool.com/investing/2017/10/02/why-acelrx-pharmaceuticals-inc-jumped-higher-today.aspx
