What is a Successful Process for Managing Grants?

What is a successful process for managing grants?

Grants management is the process of securing, tracking, and reporting grant funding awarded to non-profit organizations. Managing grants that fuel your organization can be incredibly stressful. Effective grants management involves strategic planning, efficient grant design, program development, and effective tracking and monitoring. First, the grantee must understand the grant terms and conditions and establish clear financial policies to ensure that proper controls are in place for segregating grant funds. All program requirements must be met during the grant period and consequently, administrative responsibilities that are to be completed during the grant time frame should be defined. Second, as CHCs we need to maximize efficiencies so that we get the most out of grant dollars received. Consider administrative costs that could be appropriately allocated to the grant. For example, grants management is a critical part of any grant award; consider allocating salaries to the grant that support this function. Third, a successful grants management process will include a project plan with goals and objectives. This creates a road map for the project and is vital to the success of the program. Establishing timelines, budgets and defining key personnel will improve the success potential of the program. Finally, systems and processes must be created that will aid in effectively tracking, monitoring, and reporting grant progress. The CHC should consider utilizing grants management software to aid in this process. Strategic planning, grant design and development, tracking and monitoring are required steps for implementing a successful grants management process.

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