Advanced Lab Management

Cost and Resource Management

Course overview
Managing costs and resources effectively is a critical skill for lab managers. Every spending decision impacts the lab’s ability to deliver results while staying within budget. Cost and Resource Management provides lab managers with a structured approach to budgeting, cost control, and resource optimization. This course will help you align financial decisions with your lab’s mission, ensuring that every dollar spent is an investment in the lab’s success.
  • Area of Study

    Advanced Lab Management

  • Course Duration

    1 hour

  • CEUs

    0.1

    This course is part of the Advanced Lab Management Certificate. Looking to enroll in the full certificate?
    Advanced Lab Management Certificate | Lab Manager Academy

    What is this course about?

    Understanding and managing lab costs requires more than just keeping expenses low—it’s about making smart financial decisions that drive performance and sustainability. This course explores how to build and manage a lab budget for financial stability, optimize cost structures—including people, fixed, and variable costs—and develop a cost stack to clearly communicate spending priorities. Learners will also discover how to make strategic investment decisions that align with the lab’s mission and improve cost efficiency without compromising scientific excellence.

    What are the benefits of this course?

    • Stronger financial decision-making: Learn how to allocate resources effectively and make data-driven spending choices.
    • Greater cost efficiency: Identify opportunities to reduce costs without compromising quality.
    • Optimized resource management: Understand the full cost of people, equipment, and operations to ensure smart investments.
    • Improved budgeting skills: Develop and communicate an effective budget that aligns with lab goals.
    • Stronger leadership capabilities: Lead with confidence by making cost-conscious decisions that support long-term success.

    What are the learning outcomes of this course?

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

    • Describe how the biggest costs in the budget are viewed as investments in the lab
    • Identify the benefits of understanding the lab’s cost stack
    • List ways that a lab manager can optimize people costs
    • Recognize strategies for managing fixed costs effectively
    • Explain approaches to controlling variable costs in a lab’s budget
    • Identify ways to navigate financial challenges and unexpected budget constraints

    Ready to take charge of your lab’s financial future?

    Whether you're a lab manager, director, or executive, this course will give you the tools to control costs, maximize resources, and make confident, strategic financial decisions. Enroll today and start optimizing your lab’s success!

    Meet The Instructor

    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.

    Course Content

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    What are the unique features of this course?

    Our Advanced Lab Management courses are designed to support existing and potential lab managers with training in a wide variety of leadership and management skills.

    Self-paced Courses

    Each lecture video features supporting slides, skill-testing activities, interactive elements, and a short quiz.

    IACET Accreditation

    Each Advanced Lab Management course is accredited by IACET and is worth 0.1 CEUs.

    Comprehensive Content

    We offer a variety of Advanced Lab Management courses designed to empower learners to navigate the intricacies of laboratory operations, from regulatory compliance to operational efficiency.
    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.