Virtual Program: Building a Business Case Justifying Laboratory Needs

Course overview

From requesting additional staff headcount to replacing aging equipment, it all costs money. Being successful at ensuring what the laboratory needs is secured in the budget means convincing the holders of the purse strings to open the purse and spend the money, which often feels like a herculean feat. The task is so daunting, that we sometimes forgo making requests and say to ourselves, "Well, they are never going to approve it anyway." How does the laboratory overcome these challenges and get what it needs? This workshop will cover how to build an effective business case to justify laboratory needs from headcount to equipment. The workshop will identify and define the key components of an effective business case. With these components defined, the workshop will cover how to measure and analyze the current state of the laboratory to identify opportunities for efficiency, cost-savings, and other metrics used to justify the business case. Finally, the workshop will cover how to appropriately demonstrate these value propositions in the business case.