Seven strategies for successful grants management

3. Review project goals and objectives and the associated budget costs on a regular basis during the project implementation. Compare the project budget to actual expenses on a quarterly basis to make sure that you are on the right track.

4. If there is any question about an expense, contact the program officer or grants management specialist before making the expenditure.

5. Do not allow project staff to receive grant award checks or reimbursement checks for project expenses directly. These checks should be routed to the finance office of your organization first.

6. If you are using an external contractor to provide services, make sure you have an agreement in writing that specifies what services will be provided and in what timeframe. Carefully monitor the performance of the contractor to make certain that the scope of work is being met.

7. Review the goals and objectives during the project period, and determine whether you are in compliance with the grant conditions. If you find that you are not, contact the funder immediately and discuss the situation. If you make changes to the project, make sure they are expressed in writing.

Successfully managing grant funds is possible if you carefully weigh the costs and benefits associated with applying for each grant—and only pursue funding opportunities and accept awards for projects that align with your organization’s mission, strategic plan, and goals.

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