Contract research organizations (CRO) provide many advantages to enable faster new product development, especially when a key hurdle to the new development requires skills or capabilities that are not core to the company developing the product. CROs can provide access to specialized expertise and capabilities, and enable the company to focus on what they do best. This presentation will explore different aspects of the relationship with a CRO. We intend to emphasize these elements of the relationship:
- Benefits of renting over ownership for non-core skills
- Project management
- Cooperative learning
and show how finding the right CRO partner can deliver significant benefits to the project.