The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals. A practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally is called Outsourcing. It is a very important tool for reducing cost and improving quality. If an organization does one or all its work by itself, its work may affect its production quality. So, an organization must realize some important areas, from which its cost is reduced and its products stay in high quality.

Clinical trials for the development of a new drug are, for the most part, initiated and financed by industry. There are also many clinical trials initiated by academic clinical researchers. Whether initiated by industry or by academic clinical investigators, clinical research is often performed in national, European and worldwide consortia, which can sometimes be very large ones. Clinical research raises profound ethical and safety questions. The protection of participants in a clinical trial is of paramount importance. As a consequence, clinical research is highly regulated. To facilitate collaborations across borders, many aspects of this regulation are harmonized at the European level but also worldwide.

Clinical study design is the formulation of trials and experiments, as well as observational studies in medical, clinical and other types of research involving human beings. The goal of a clinical study is to assess the safety, efficacy, and / or the mechanism of action of an investigational medicinal product, or new drug or device that is in development, but potentially not yet approved by a health authority. Design-based research is a type of research methodology commonly used by researchers in the learning sciences. Within design-based research methodology, interventions are conceptualized and then implemented iteratively in natural settings in order to test the ecological validity of dominant theory and to generate new theories and frameworks for conceptualizing learning, instruction, design processes, and educational reform. Types of Study Designs Meta-Analysis, Systematic Review, Randomized Controlled Trial, Cohort Study, Comparative Study, Case-control Study, Cross-sectional study, Case Reports and Series, Animal Research Studies, Test-tube Lab Research.

Molecularly targeted therapy is one of the major modalities of medical treatment (pharmacotherapy) for cancer, others being hormonal therapy and cytotoxic chemotherapy. As a form of molecular medicine, targeted therapy blocks the growth of cancer cells by interfering with specific targeted molecules needed for carcinogenesis and tumor growth, rather than by simply interfering with all rapidly dividing cells. Because most agents for targeted therapy are biopharmaceuticals, the term biologic therapy is sometimes synonymous with targeted therapy when used in the context of cancer therapy (and thus distinguished from chemotherapy, that is, cytotoxic therapy). However, the modalities can be combined, antibody-drug conjugates combine biologic and cytotoxic mechanisms into one targeted therapy. Here are some targeted trials done so far for breast cancer, multiple myeloma, lymphoma, prostate cancer, melanoma and other cancers.

Over the past 30 years, treatment of breast cancer has greatly improved due to lessons learned through clinical trials. Clinical trials test the safety and benefits of new treatments, diagnostic methods and screening tests. People volunteer to take part in these research studies. Whether a new therapy or test becomes part of standard treatment (or diagnosis or screening) for breast cancer depends largely on clinical trial results. For example, clinical trials showed the benefit of hormone therapies and trastuzumab (Herceptin) in breast cancer treatment and these drugs are now part of standard care. Large randomized clinical trials are viewed as the best basis for making treatment guidelines. Clinical trials take place around the world in many types of medical centers and hospitals. Often, trials are funded by a agencies like the National Cancer Institute.

With the increasing challenges associated with bringing a medical product to market, and skyrocketing R&D costs, there has been a shift in biopharmaceutical commercialization and clinical trial strategies in order to minimize risk and maximize success. It is estimated that bringing medical products to market costs $1.3 billion and 1 out of every 5000 experimental compounds achieve FDA approval. Moreover, market saturation in many disease modalities is also forcing biopharmaceutical enterprises to focus their efforts on accessing patients with orphan/rare diseases.