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A substantial reduction in the time and cost of the bidding and contracting process. |
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Improved predictability in the source and potential volume of revenue. |
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A reduced risk in recruiting and building an experienced work force. |
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Improved ability to understand the requirements and expectations of the client. |
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Ability to respond rapidly and confidently to requested changes in scope during the course of the project. |
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Customized management information and reporting systems for the client. |
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Access to technologies that are developed among the two parties. |
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The full value of preferred supplier relationships or strategic alliances can only be achieved through an open and continuing planning and review process involving both sponsor and the CRO. This process can be achieved via close collaboration at two primary levels, namely (a) through project-specific team(s) that handle the planning and implementation of the project scope of work, and (b) a bipartisan executive review committee that monitors and ensures the continued development of the overall intercorporate relationship. |
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Whether governed by an ad hoc project-specific contract or a preferred supplier agreement, there are a few key factors that facilitate the success of a project that is conducted through the support of a CRO. |
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Explicit definition and agreement on the scope and duration of work. |
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A written contract between the CRO and sponsor that is based on a win-win philosophy; each partner must be accountable while neither is placed at inappropriate risk. |
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A sophisticated, well-experienced approach to project planning and budgeting by both the CRO and the sponsor. |
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Clearly identified project leaders and responsibilities. |
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Demonstrated ability by CRO in project leadership and management. |
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Clearly identified lines of communication. |
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An established process for performance measurement and reporting. |
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Recognition that the CRO is a service provider and, accordingly, must be professionally responsive and flexible while assuring compliance with regulatory and ethical business requirements. |
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Understanding of any subcontracting that the CRO may be required to do during the project. |
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CRO reference checks prior to contract award. |
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Financial stability of the CRO. |
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