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  • jdc46 replied to the topic Sponsorship for companies in the forum Project Management Application: Clinical Trial 5 years, 11 months ago

    Sponsors are the most valuable source of revenue for a small company. The business sponsor relationship is facilitated through the stakeholder management knowledge area of the project manager. Obtaining sponsorship for any business with minimal resources are almost always entirely dependent on sponsorships. In obtaining these sponsorships, the success of the business model must provide a return of investment for the sponsor. Therefore, it is of the project manager’s top priority to meet the customer needs of the sponsor. Failing to meet the interest of the sponsor will result in the end of any further business relationship with the sponsor and may lead to the ultimate downfall of the small company. Company’s are constrained to only work on projects that will bring in money, and if a sponsorship is the essential source of revenue for a small company, then their business decisions are constrained to that sponsorship.