Expertise

Our Approach

KROMITE uses a systematic facilitation process and analytical methods supported by the Society of Decision Professionals as well as the Decision Analysis Society. Building on the fundamentals of Decision Science, we can help you frame your decision, generate and analyze creative alternatives, and manage risk in order to align your decision with your key objectives. This short Intro to KROMITE gives a graphic overview of our team's experience and approach. 

We believe that every decision maker has rights:

The Decision Maker's Bill of Rights

  • A decision frame that structures the decision in the context most relevant to your needs
  • Creative alternatives that allow you to make a selection among viable and distinct choices
  • Relevant and reliable information upon which to base your decision, including the uncertainty of the information
  • An understanding of the potential consequences of each alternative based on your choice criteria
  • A logical analysis that allows you to draw meaningful conclusions from the information to reach clarity of action
  • Effective facilitation to gain alignment and commitment to action

(Created by the Society of Decision Professionals)

What are your biggest frustrations with decision making at your company?

If you are trying to find solutions to some of these frustrations, give us a call.

 

In The News

Jack Kloeber, principal of KROMITE, was interviewed by business reporter Crissa Shoemaker DeBree, Bucks County Courier Times. Please see article "Business Helps Make the Tough Decisions", which describes how Jack and the KROMITE team help pharmaceutical and agricultural companies make tough decisions. 

 

 

Technical Material

KROMITE Capabilities

Case Studies & White Papers

Case Studies
    Valuation of Pharmaceutical Drugs is More Than Just a Forecast:
    • Immunotherapy Oncology Drug Valuation and Development Strategy

    Tough Decisions in the Pharmaceutical Industry:
    • Assessing Risk and Value of a Project with Multiple Options,
    • Accounting for Uncertain Target Product Profiles (TPPs) of the Competition,
    • Assessing an In-Licensing Opportunity

White Papers
    Maximizing the Value of a New Molecule: Indication Sequencing for a New Molecular Entity with Multiple Potential Indications
    Deciding which Projects to Fund: Using Value Focused Thinking in Pharmaceutical Decision Making
    Horses for Courses: Portfolio Management Methods for Different Stages of Drug R&D

Thoughts on Decision Quality
    Peace of Mind: Explaining the Value of Decision Analysis


Publications

Syngenta earns 2015 INFORMS Edelman Award: Agribusiness sows the seeds of success with operations research and analytics
'Good growth through advanced analytics' project cuts development costs, produces better crops in an environmentally responsible manner.

Horner, P., (2015) "Syngenta earns 2015 INFORMS Edelman Award". OR/MS Today, June 2015, Volume 42, No. 3, 24-27

Byrum, J, et al, (2016) "Advanced Analytics for Agricultural Product Development". Interfaces, 46.1, 5-17


An Empirical Examination of Multiple Objective Risk Attitudes
Authors: William K. Klimack, Jack M. Kloeber Jr., Kenneth W. Bauer, Mark E. Oxley
Abstract: We experimentally examined the relationships between the measurable value and utility functions of a nonmonetary multidimensional decision situation for a number of subjects. We found that value and utility were not equivalent constructs. We tested five families of functions and found the sigmoid function performed best as a transform from value to utility. Constant relative risk aversion was not observed. The methods of probability equivalent and certainty equivalent utility elicitation provided similar results, which differs from previous work using economic decisions.

Klimack, W, et al, (2015) "An Empirical Examination of Multiple Objective Risk Attitudes". Decision Analysis


Indication Sequencing for a New Molecular Entity with Multiple Potential Oncology Indications
Authors: Jack Kloeber Jr. Ph.D., Alex Stojanovic Ph.D., and C. Kwon Kim Ph.D.
In this chapter, published as part of Optimization of Pharmaceutical R&D Programs and Portfolios, Kloeber, Stojanovic and Kim address portfolio optimization at a sub-portfolio level. Even a “mini” portfolio—such as a single molecule with numerous indication opportunities—can pose a significant challenge to an organization; there are many interdependencies, correlations, and synergies to consider, weigh, and trade off. Here they present a case study that considers the challenge of optimizing this sub-portfolio by determining the best sequence of three potential indications. The same methods can be applied to a molecule with even more indication opportunities or a group of related molecules.

Kloeber, J, et al, (2015) "Indication Sequencing for a New Molecular Entity with Multiple Potential Oncology Indications". In Optimization of Pharmaceutical R&D Programs and Portfolios: Design and Investment Strategy, 123-139


Portfolio Decision Analysis: Improved Methods for Resource Allocation
Authors: Jeffrey Keisler, Jack Kloeber, Alec Morton, Ahti Salo, et al.
Portfolio Decision Analysis: Improved Methods for Resource Allocation provides an extensive, up-to-date coverage of decision analytic methods which help firms and public organizations allocate resources to "lumpy" investment opportunities while explicitly recognizing relevant financial and non-financial evaluation criteria and the presence of alternative investment opportunities. In particular, it discusses the evolution of these methods, presents new methodological advances and illustrates their use across several application domains.

In the pharmaceutical industry, for example, the R&D, regulatory, and marketing process bring distinct challenges in timing, risk, opportunity, compliance, and cost structure of Portfolio Management. In Chapter 13 "Current and Cutting Edge Methods of Portfolio Decision Analysis in Pharmaceutical R&D," Dr. Jack Kloeber, principal of KROMITE, provides an extensive, up-to-date discussion of different decision analytic methods as they best apply to pharmaceutical R&D portfolio management. Here is a look at a few critical concepts:
    
  • Cutting Edge Methods in Portfolio Management
    An overview of concepts and methods of Portfolio Decision Analysis in context
  • Combining Multiple Objectives
    Multiple objective decision analysis (MODA), a methodology growing in popularity within PDA of discovery and early development portfolios
    See "Deciding which Project to Fund" for more details.
  • Project vs. Portfolio Objectives
    A major theme throughout this chapter is a focus on portfolio objectives, rather than project goals, values, and risks. So many companies still focus their analytical efforts on project level valuation and prioritization, missing chances to help the organization meet portfolio level goals, fill company level gaps, and help leaders conduct portfolio level risk management.
  • Horses for Courses
    Different PDA methods may be more appropriate in one sub-portfolio (such as the Discovery portfolio) than others (such as the Late Development portfolio). See "Horses for Courses" for more details.
In summary, maximizing value, managing risk, and aligning decision making with company values requires an integrated portfolio management process – This is KROMITE's strength.

Kloeber, J, (2011) "Current and Cutting Edge Methods of Portfolio Decision Analysis in Pharmaceutical R&D". In Portfolio Decision Analysis, International Series in Operations Research & Management Science, Volume 162, Part 3, 283-331


Handbook of Decision Analysis
Authors: Gregory S. Parnell, Terry A. Bresnick, Steven N. Tani, Eric R. Johnson
Handbook of Decision Analysis is a one-of-a-kind guide to the best practices in decision analysis. Decision analysis provides powerful tools for addressing complex decisions that involve uncertainty and multiple objectives, yet most training materials on the subject overlook the soft skills that are essential for success in the field. This unique resource fills this gap in the decision analysis literature and features both soft personal/interpersonal skills and the hard technical skills involving mathematics and modeling. Readers will learn how to identify and overcome the numerous challenges of decision making, choose the appropriate decision process, lead and manage teams, and create value for their organization. Performing modeling analysis, assessing risk, and implementing decisions are also addressed throughout. Additional features include:
  • Key insights gleaned from decision analysis applications and behavioral decision analysis research
  • Integrated coverage of the techniques of single- and multiple-objective decision analysis
  • Multiple qualitative and quantitative techniques presented for each key decision analysis task
  • Three substantive real-world case studies illustrating diverse strategies for dealing with the challenges of decision making
  • Extensive references for mathematical proofs and advanced topics
The Handbook of Decision Analysis is an essential reference for academics and practitioners in various fields including business, operations research, engineering, and science. The book also serves as a supplement for courses at the upper-undergraduate and graduate levels.

Parnell, et al, (2013) "Handbook of Decision Analysis", Wiley


A Global Approach to Discrete-Rate Simulation

Damiron, C., and D. Krahl, "A Global Approach to Discrete-Rate Simulation". In Proceedings of the 2014 Winter Simulation Conference, ed. A. Tolk, S. Y. Diallo, I. O. Ryzhov, L. Yilmaz, S. Buckley, and J. A. Miller, 2966-2977. Piscataway, New Jersey: Institute of Electrical and Electronics Engineers.

Roadmap to Success: Your First Simulation Model

Clark, R., and D. Krahl, "Roadmap to Success: Your First Simulation Model." In Proceedings of the 2011 Winter Simulation Conference, ed. S. Jain, R.R. Creasey, J. Himmelspach, K.P. White, and M. Fu, 1470-1480. Piscataway, New Jersey: Institute of Electrical and Electronics Engineers.

Beyond the University: Simulation Education on the Job

Tag, P., and D. Krahl, ""Beyond the University: Simulation Education on the Job." In Proceedings of the 2007 Winter Simulation Conference, ed. S. G. Henderson, B. Biller, M.-H. Hsieh, J. Shortle, J. D. Tew, and R. R. Barton, 2357-2361. Piscataway, New Jersey: Institute of Electrical and Electronics Engineers.

Debugging Simulation Models

Krahl, D., ""Debugging Simulation Models." In Proceedings of the 2005 Winter Simulation Conference, ed. M. E. Kuhl, N. M. Steiger, F. B. Armstrong, and J. A. Joines, 62–68. Piscataway, New Jersey: Institute of Electrical and Electronics Engineers.

A Message-Based Discrete Event Simulation Architecture

Krahl D. J. and S. Lamperti, ""A Message-Based Discrete Event Simulation Architecture." In Proceedings of the 1997 Winter Simulation Conference, ed. S. Andradbttir, K. J. Healy, D. H. Withers, and B. L. Nelson, 1361-1367. Piscataway, New Jersey: Institute of Electrical and Electronics Engineers.



Professional Organizations

Upcoming Events


Recent Events & Presentations

  • SDP 2017 Decisions Analysis Affinity Group (DAAG) Conference, March 15-17, 2017, New Orleans, LA
    • Congratulations to KROMITE’s Jack Kloeber, Emilia Silebi and Peiran Zhao and Syngenta's Joseph Byrum, Tracy Doubler, Greg Doonan and Craig Davis for receiving the Decision Analysis Society's 2016 Practice Award, which is co-sponsored by the Society of Decision Professionals, for the paper “A Bayesian Method for Selecting Elite Varieties of Soybean” .
    ”Decision
    Pictured: Society of Decision Professional’s President Larry Neal presents 2016 Practice Award plaque to KROMITE’s Emilia Silebi and Peiran Zhao at DAAG 2017 Conference.
  • 2016 INFORMS Annual Meeting: Fine Tuning Decisions in Music City, November 13-16, 2016, Nashville, TN
    • Congratulations to KROMITE’s Jack Kloeber, Emilia Silebi and Peiran Zhao and Syngenta's Joseph Byrum, Tracy Doubler, Greg Doonan and Craig Davis. Their paper “A Bayesian Method for Selecting Elite Varieties of Soybean” is a Decision Analysis Society’s 2016 Publication Award Finalist.
    ”2016
    Pictured: Decision Analysis Practice Award Committee Chair Frank Koch and Decision Analysis Society’s President J. Eric Bickel present KROMITE’s Jack Kloeber with the 2016 Publication Award Finalist certificate at the 2016 INFORMS Annual Meeting.
  • Winter Simulation Conference 2015 – Social and Behavioral Simulation, Dec. 6-9, Huntington Beach, CA
    • KROMITE's Dave Krahl presented “Modeling a Vaccine Distribution Supply Chain.” This model, used by government agencies, examines the impact of using retail pharmacies as vaccinators in addition to traditional distribution by healthcare providers. It evaluates the time to reach 80% coverage for adults and children nationally and on a state-by-state basis.