We should select PG and PhD projects very carefully. First of all, there should be basic facilities regarding the work selected. You can outsource some testing from other institutes. Secondly, you should choose suitable drug moiety for delivery. Now , choose suitable delivery system for selected moiety. Objective or rationale of work should be clear. Complete the work including preparation, characterisation and evaluation of system.
First and foremost the selection of the project: it should is based on the current drawbacks of pharmacotherapy available for the patients for any disease or disorder for which you may think of design and testing of delivery system.
Mostly, the objective & rationale may fall under the following headings:
1. Bio availability enhancement
2. Toxicity reduction
3. Targeting/site specific drug release
4. Combination therapy
5. Temporal drug release (sustain and controlled release)
6. Theranostics etc.
Depending upon the objective and resources available you will plan your work and test the hypothesis after a careful and thorough, and continuous literature search.