linkedin post 2013-02-04 15:48:41

STEERING COMMITTEES ARE VALUABLE FOR OUTSIDE RELATIONSHIPS. Say you form a R&D partnership with a big company who funds your research in return for an Option. A Steering Committee is critical to establish criteria for success, and to determine a decision tree for all possible data outcomes. You need to protect yourself from a bad result leading to a surprise termination of the relationship, an event that can be at worst disasterous, and at best very hard to manage. You need to be jointly managing these expectations and be on the same page at every step.

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