Advanced Lab Management
 Leads to Certification

Strategic and Financial Management for Labs

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Stream overview
Strong leadership starts with strategy—and succeeds with smart financial management. The Strategic and Financial Management for Labs stream credential empowers lab professionals to lead with vision, manage budgets with confidence, and drive operational excellence. Designed specifically for laboratory environments, this five-course stream builds advanced skills in strategic planning, finance, cost management, project execution, and crisis preparedness.

Whether you're stepping into a leadership role or looking to strengthen your management toolkit, this stream offers practical guidance and real-world tools to help you lead your lab more effectively.
  • Area of Study

    Advanced Lab Management

  • Certificate Type

    Stream Credential

  • Number of Courses

    5

  • Credential Duration

    5 hours

  • CEUs

    0.5

    This stream credential is part of the Advanced Lab Management Certificate. Looking to enroll in the full certificate?
    Illustration of a Advanced Lab Management Certificate on a monitor screen

    What is this stream credential about?

    • Strategic Planning: This course introduces the foundational elements of strategic thinking for lab leaders. Learners will explore how to build and execute a clear, actionable strategic plan that aligns with their lab’s purpose, balances long-term goals with short-term needs, and engages staff through effective communication and defined roles.
    • Finance and Budgeting: Lab managers often step into their roles without formal financial training. This course provides essential financial knowledge—covering budgeting, cost management, and financial reporting—so lab professionals can confidently oversee their lab’s finances, communicate with finance teams, and make data-informed decisions.
    • Cost and Resource Management: Effective labs don’t just track spending—they optimize it. In this course, learners will gain a structured approach to managing lab costs, allocating resources, and making smart investment decisions that support lab sustainability and performance.
    • Project Management: Lab managers are regularly tasked with leading projects, from new equipment installs to multi-phase research initiatives. This course delivers a lab-specific framework for planning, managing, and executing projects—while accounting for scientific uncertainty, stakeholder demands, and tight timelines.
    • Lab Crisis Preparation: Disruptions can devastate a lab if not planned for. This course teaches lab leaders how to prepare for emergencies like floods, fires, and power outages, helping them protect their people, data, and research by building a comprehensive crisis plan before disaster strikes.

    Who is this stream credential for?

    The Strategic and Financial Management for Labs stream credential is ideal for lab managers and directors responsible for budgets, operations, and planning; scientists transitioning into leadership or administrative roles; quality, compliance, or operations professionals in lab settings; and anyone tasked with budgeting, resource allocation, or lab project oversight.

    If you're ready to take your leadership and financial management skills to the next level, this stream was built for you.

    What are the benefits of this stream credential?

    By the end of this stream, engaged learners should be able to:

    • Develop and implement a clear, actionable strategic plan for their lab
    • Build and manage effective lab budgets aligned with financial goals
    • Optimize spending and resource allocation to support lab performance
    • Lead lab-based projects with greater clarity, structure, and confidence
    • Prepare for and respond to lab crises to minimize disruption and protect critical assets
    What's included?

    Courses in this stream credential

    The Strategic and Financial Management for Labs stream credential equips lab leaders with the tools to plan strategically, manage finances, and lead with confidence. From setting a clear vision and building effective budgets to managing projects and preparing for crises, this stream provides a practical foundation for lab success. Each course is designed to help you make smarter decisions, optimize resources, and drive long-term impact.

    Strengthen your strategic mindset and take control of your lab’s future—enroll today and lead with purpose!

    Meet The Instructors

    Scott Hanton

    PhD

    Years of Experience
    Scott Hanton is the editorial director at Lab Manager and the leader of the Lab Manager Academy. He spent 30 years working in industrial chemistry labs, with 20 years as a lab manager. He had roles of general manager, laboratory operations manager and chief scientist for Intertek Allentown. Previously, he had roles of research scientist, laboratory supervisor, and section manager at Air Products & Chemicals. Through these different roles, Scott developed expertise in polymer mass spectrometry, analytical characterization, people leadership, and business management. He earned a BS in Chemistry from Michigan State University and a PhD in Physical Chemistry from the University of Wisconsin-Madison. Scott is an active member of ACS, ASMS, and ALMA.

    Tracy Durnan

    MBA

    Years of Experience
    Tracy Durnan has led an impressive career as a researcher and administrator in her thirty years working in the field of biomedical research. Tracy served as the Senior Manager of Facilities Operations and Laboratory Support at the Sylvester Comprehensive Cancer Center for 15 years. In 2017, she received the Sylvester Stars Award from the Sylvester Comprehensive Cancer Center, which recognizes excellence in research administrative staff. Tracy had the unique distinction of receiving nominations for the Sylvester Stars award from more faculty members than any previous recipient. In her role, Tracy led the onboarding of new research labs and significant process improvement efforts in both the research and hospital operations at Sylvester. Tracy has led over a dozen major renovation projects, improving the working environment for hundreds of employees. Tracy is also an expert in disaster preparedness; she published an article in Lab Manager Magazine on the topic of disaster preparedness in September 2018 and has presented talks on the topic at national conventions. Finally, she recently received certification in Diversity, Equity and Inclusion.

    Before joining the Sylvester Research Administration team, Tracy was the Research Laboratory Coordinator of one of the largest labs at MD Anderson Cancer Center in Houston, TX for four years.

    Tracy has also worked in laboratory leadership roles at institutions such as NASA and the University of Colorado Medical Center.

    Tracy holds a Bachelor degree in biology from Colorado State University and an MBA in health sector policy and administration from the University of Miami.

    What are the unique features of this stream credential?

    Official Certification

    Live monthly office hours

    100% self-paced

    Lifetime access to updates

    5 online courses

    IACET-accredited institution

    Corporate rates for enrolling five or more lab professionals

    Backed by 30+ years' industry experience

    Ready to elevate your lab leadership skills?

    Enroll today and take the next step toward a successful and fulfilling career in laboratory management.
    Lab Manager Academy is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.