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Controls Budget & Finances
The Core Principle
Clinical trials are multi-million dollar investments. By identifying potential logistical and operational challenges early, feasibility assessments allow for more accurate budgeting, preventing the unexpected costs that arise from protocol amendments, site replacements, or extended timelines.
Why It's Critical
It's a critical tool for financial de-risking, turning unknown variables into calculated risks with clear mitigation plans. This financial foresight is crucial for gaining stakeholder buy-in and securing funding.
Real-World Impact
A study plans to use a specific imaging machine. Feasibility analysis discovers that only 20% of proposed sites have this equipment. The budget is proactively adjusted to cover the costs of either leasing the machines for other sites or paying for patient travel, avoiding a multi-million dollar budget overrun.