CRM works through an iterative process: 1. Initial Model: The study begins with an initial model that estimates the probability of an adverse event at each dose level based on prior information. 2. Dose Assignment: Participants are assigned to a dose level based on this initial model. 3. Data Collection: As participants are treated, data on adverse events are collected. 4. Model Update: The model is continually updated with this new data, refining the probability estimates. 5. Repeat: The process is repeated, with each new participant being assigned a dose based on the most current model.