Management Matters Webinar
Available On Demand
Sponsor
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Managing the budget is a core responsibility of lab management. Every lab will go through times when the revenues coming into the lab are not meeting forecast or expectations. Being able to make critical spending decisions will be critical to meet your budgetary requirements.
Most labs have relatively small discretionary budgets. It is very important to know where there is leverage around spending and how costs for the lab can be managed and controlled. Lab managers need to understand their numbers and be able to make these kinds of decisions. Planning ahead is crucial to meeting budget expectations, especially in difficult times.
Some budget reductions can’t be made without reducing headcount. It is important understand when the budget can be closed just with spending controls, and when the scope of the reduction will require cutting staff.
As an attendee, you will learn more about:
- Understand the lab’s cost stack
- Understand fixed and operational costs
- Explore the levers available for cost reduction decisions
- Understand the level of discretionary spending
- How planning ahead helps
- Making hard decisions
Speaker
Scott Hanton
Editorial Director
Lab Manager
