How to Manage A Grant

It can be difficult to secure a grant, but once you do, you need to know how to effectively manage it. Properly managing a grant will ensure your project's success. It will also affect your reputation -- if you're a good grant manager, granting agencies will be more willing to provide grants for your projects.

Instructions

1. Set up a plan to continuously monitor your project. This plan should list all the goals of the project and the steps that must occur to achieve those goals. Look at the plan and determine how successful you have been in achieving the project's goals on a weekly basis.

2. Have several people look at the project's expenses to make sure that the money is being used correctly. You should not be using the grant money for things that don't directly affect the project. If you're using the grant money incorrectly, the granting agency may request a full refund of the funds awarded to you.

3. Set up a calendar for submitting the required grant reports. You want the granting agency to receive all these reports on time so they know that you are on top of things. They'll also be less likely to audit you and more willing to provide additional grants in the future.

Tips & Warnings

• Remember that keeping on top of these three simple things can help you get a great reputation as a grant manager and encourage others to fund your projects.

References

• U.S. HHS: Guidance for Managing a Research Grant