Building and Defending a Lab Budget at the Organizational Level

<p>At the organizational level; budgeting involves more than determining what the lab needs and how much it will cost. Senior lab leaders must weigh competing priorities; plan for both immediate and long-term needs; and make a clear case for investments to executives; finance teams; and other decision-makers.<br />
In this session; attendees will hear from a leader with firsthand experience navigating budgeting and funding decisions at the organizational level. The discussion will cover how to build budgets around strategic priorities; evaluate where limited resources can have the greatest impact; and communicate funding needs in terms that resonate beyond the lab. Attendees will also learn how to prepare for difficult tradeoffs; respond when funding falls short; and strengthen their case for future investment.<br />
Key learnings<br />
Attendees will learn how to:<br />
Connect lab budget requests to broader organizational goals and priorities<br />
Build a stronger business case for staffing; equipment; infrastructure; and other investments<br />
Prioritize needs when available funding cannot cover everything<br />
Communicate budget requests effectively to finance teams and executive leadership<br />
Navigate budget cuts; deferred investments; and other funding constraints while planning for longer-term needs</p>