Kristine,
From what I've learned about this disease, the first thing that needs to be figured out is whether the cancer is resectable or not resectable i.e. assuming they have already biopsied the growth and found out that it is definitely pancreatic cancer. The criteria the docs use to figure whether it is resectable or not is by looking at whether there are mets in other organs or lymph nodes. If the tumor is confined to the pancreas, then it can be surgically removed assuming it is not in contact with any of the major veins or arteries that passes or in contact with the pancreas.
Treatment options would vary depending on whether it can be surgically removed or not. As far as the numbers go, surgery is the only treatment that offers the best 5-year survival rate. You can find out more about surgery and eligibility for it by clicking or copying and pasting any of the links below:
http://pancan.org/Patient/Pancreatic/surgery.html
http://pathology.jhu.edu/pancreas/TreatmentIntro.php?area=tr
You can also contact the Pancreatic Cancer Action Network (www.pancan.org). They can send you an information packet that would help you learn a lot more about this disease. I believe they have a toll free number that you can call as well.
Also, another messageboard that offers tons of valuable information is:
http://pathology.jhu.edu/pancreas_chat
I believe this board is actually setup by John Hopkins. A lot of helpful caregivers/patients/and some medical professionals go into that board and offer advise.
I hope this helps. Wishing the best for your grandma.