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Everyone is always thrilled when they are notified that they received grant funding. You worked hard on your proposal and hoped for the best. The post-award period can be both an opportunity and a challenge. It demands diligence, strategic planning, compliance and an ongoing commitment to communication and documentation with the team that you relied on to gather the information needed to write a successful grant proposal.
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This is the grant management phase of the project when the team members need to remain engaged, communicate and keep the project moving to completion.
This article provides practical advice and best practices to help grant recipients not only meet funder requirements but also achieve the greatest possible impact with their grant funding.
Establish a team
After receiving the award letter, gather all team members needed for the project, including those responsible for key tasks, including:
- Procurement
- Data management
- Reporting (financial and performance)
- Grant closeout
The folks that may be needed the most are the least experienced in the world of grants, which can be intimidating and nerve-racking for some. Provide as much information as possible about expectations of their involvement in the process. This will avoid miscommunication and encourage collaboration for the best final product.
Key objectives of post-award management
The crucial post-award phase encompasses a wide array of activities, including:
- Financial oversight
- Project implementation
- Reporting
- Compliance checks
- Closeout
Effective post-award management ensures that the project fulfills its objectives, complies with funder regulations, and maintains transparency and accountability.
Key objectives include:
- Ensuring compliance. Adhering to the terms and conditions set by the sponsor
- Financial stewardship. Managing the budget, expenditures and financial reporting.
- Project implementation. Executing the project as proposed, with timely adjustments as needed
- Timely reporting. Submitting required technical and financial reports to funders
- Sustainability and closeout. Planning for project continuation or proper closure when the grant ends
