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Manage study funds

Information:

  • It is vitally important that study funds are managed properly from the onset of any clinical research study. Once funds are in the red it is very challenging to get out of this situation, so it is critical that you do anything that you can do to ensure proper management of your funds from the get-go.
  • The Principal Investigator is responsible for the management of study funds but, with proper training and oversight, may delegate these responsibilities to members of his/her study team. Fund-management procedures should be outlined in your study’s SOP.
  • The person charged with these duties should monitor your funds and create a report with projected balances on at least a monthly basis. Strive to resolve any issues immediately to keep your funds out of the red and to ensure that any payments you are owed are received quickly.
  • The Insight Research Portal is a web-based application that was developed to review, monitor and manage research portfolios.  Comprised of ten different modules, Insight's functions cover the broad function of research administration from award management to effort reporting, IRB submissions and standard reporting.

Resources:

Document Direct
MGH Clinical Research Program Study Milestone Tracker
Partners Clinical Research Office
Partners Research Finance
Partners Research Management

Courses:

ONLINE:
Introduction to Clinical Research at MGH
Research Management Online Tutorials

LIVE TRAINING:
Budget Builder Workshop, 1:00pm – 2:30pm
Budget Builder Workshop, 3:00pm – 4:30pm
▪ Clinical Trials Billing Series: Charge Capture and Billing Procedures, Clinical Trials with Investigational Devices or Approved Devices with PMA/510K Numbers, Monitoring, Invoicing and Corrections
Budgeting, Invoicing and Tracking Expenses for Industry Sponsored Clinical Research Studies
Budgeting for Industry Sponsored Clinical Trials

Please click here for a list of CRP current offerings. Many of the CRP's courses are recorded, click here to access our recordings and handouts.