What is Project Management?
Project management is the process of organizing and controlling an organization’s clinical trial resources throughout the duration of a trial. Maintaining tight control of these resources is essential in ensuring the trial is completed on time, on budget and with quality and accuracy. Failure to properly manage clinical trials could result in decreased revenue for an organization and a lower likelihood for future business with sponsors.
Why is Project Management Critical?
Proper project management ensures quality trial data, which helps ensure accurate trial results. Errors are also reduced, which helps ensure trial compliance. Over time, project management increases organizational efficiency, thereby lowering an organization’s trial costs, which improves sponsor relationships and increases the chance for repeat business. Project management also enhances the communication between multiple trial locations and standardizes protocols and guidelines for all involved parties.
CTMS + Project Management
A CTMS makes project management a breeze. With features like partner selection, financial tracking, partner portals, reporting and metrics, monitoring and protocol setup, organizations have all the project management tools they need within one application. Other software can’t communicate with study partners. A CTMS puts an organization in complete control of everything related to its clinical trials and gives users the tools they need to accomplish goals and better their business. What’s more, great CTMS applications provide the functionality to set and track study milestones, which helps managers identify potentially weak areas in the research process early, so corrections can be made before quality severely decreases. If you work with multiple locations, these features are exponentially more impactful, as they can track the progress and effectiveness of individual locations in addition to the metrics of an entire study.
Effective project management with a CTMS leads to less confusion, enhanced communication and collaboration between partners and faster trial progression. Project management also leads to more accurate results, making organizations better business partners. Effective project management also decreases overall costs, increasing an organization’s profitability.