Prepare for Grants Management
Before you dive into building out an entire grants program, you should have the elements in place for managing all the awards you will be receiving from your successful proposals.
Grants management includes all the administration and work that goes into expending grant award dollars and fulfilling all the requirements of the award. A grant award given to an organization or individual is a contract. That contract stipulates how the money can be used, how that use is reported, and the time frame covered by the award.
In this section we provide a high-level overview of grants management, which is a specific set of skills and knowledge. Why do you need to pay close attention to managing grant awards? There are a number of reasons, but a primary one is that it is key to getting future funding. When you receive an award, you want to manage it properly in order to build long lasting credibility with the funder. If you manage an award well, you may continue to receive support from that particular grantmaker.
Another reason is that a defined process results in staff efficiencies, always a good by-product of any work you do. You are...
