Effectively Manage Grants with Grant Management System


Grant Management refers to the process and methods an educational institute harnesses in order to oversee its grants. That is, selecting projects to promote, support and monitor and eventually access their success. In recent years competitive and regulatory compliance measures are stricter than ever, this forces higher education grant managers to remain efficient, transparent and compliant to win funds.



Here are some suggestions for educational institutions for proper allocation of current funds and the winning of furthers funds through greater reporting capabilities.

1. Understand Your Needs

Funding and grant management needs vary among institutions based on structure and operations. Grant management solutions are flexible to meet the needs of each individualized case within higher education funding models.

For both state universities and individual university institutions, offices are often centralized but may lack in operational efficiency. Decentralized operations can lead to mismanaged grants, leaving educational institutes vulnerable to non-compliance with funders regulations. For these institutions, grant management solution can aid by centralizing operations, increasing efficiency and decreasing time allocated to grant application and management.

Community colleges tend to have different needs for grant management. Grant awarded to community college is often short-term consortia grants with sub-recipients. These sub-recipients tends to complicate the grant management process because each usually has independent financial and performing reporting systems. Comprehensive grant management solution can help streamline complex allocation of funds and goals to multiple sub-recipients.

2. Map Your Current Workflow

Many universities dealing with grant application and management use the tools they have at hand to piece together a grant management workflow. These workflows are often comprised of word processing documents and spreadsheets cluttering a server. In order to delegate work and remind employees of responsibilities, grant managers send emails, spending more time organizing and communicating data than you are managing it.

A consolidated system comprised of all documents, deadlines, delegated tasks and progress can expedite workflows, save time and ensure compliance.
3. Change with time

Grant management solution reduce administrative time by an average of 72% and have quick access to performance metrics for compliance assurance.

Grant management solutions are tailored to your organization's specific needs. However, like any period of change, make sure you stay communicative and available to your team as you roll out these tools to ensure success from day one.

Grant Management System by Inknowledge

Grant Management System helps university or college in managing complete grant process from applying for the grant to awarding grant. Grant management application helps to track proposal and award activity by college, school, department or a specific faculty, stay updated about research activity of your faculty, maintains policy and procedures and provide performance data for faculty productivity, generates and stores faculties previous works, better communication, limited submission opportunity, more transparent process, provides feedback opportunities and instils consistency enabling a standard format.

Features of the Grant Management System:

1. The Grant Management System lets faculty submit their pre-proposal certification form and get approved by their department heads electronically.

2. You can speed up the review process by sending out review request simultaneously to all reviewers and remove the bottlenecks inherently present in a linear approval process.

3. You can let faculty report their award activity and let sponsored programs office personnel verify and issue award letters.

4. You can use an elaborate budget builder to propose effort in months, percentage or salary and let the builder calculate the rest for you.

5. Indirect cost waiver, indirect cost distribution, cost share commitment and approval, multiple credit are all built into the system to even allow for special cases to be handled online.

6. You can integrate your grant management process with other research administrative functions like regulatory compliance, conflict of interest management and technology transfer to automate related business processes and improve compliance with internal and external policies and procedures.

7. You can run reports at an institutional level or college or school level or drill-down to specific faculty to see their proposal and award activity. Draw insights and provide them to the administration. Let the faculty directly pull this information into their productivity reporting tools and showcase their accomplishments on their profiles.

Note: The author of this article is working with Inknowledge.

For more information, please visit our official website Inknowledge Inc. You can also contact us at info@inknowledge.com.

Comments

Post a Comment

Popular posts from this blog

Steps To Ensure Your Grant Management System Is Scalable

Image
Grant Management software assists educational institutions such as universities and colleges in administering and automating the grant process. It can help the institution in managing complete grant process from applying for the grant to awarding grant and includes various functions like budget planning, peer collaboration, regulatory compliance, proposal submission, administrative reporting and project tracking. It can be available as software or as a web-based cloud application. Grant management software or application helps to ease grant-related administrative burdens. Many universities and colleges rely on grant funding from the government or private company sources. It is estimated that $1 trillion is given as grant money by all U.S. grant sources. Grant management continuously evolve with the changes to federal reporting requirements and data transparency standards. This gives rise to the need for scalable solutions. Grant management software is one way to streamline gr
Read more

Simplify Your Grant Management Process With Grant Management System

Image
Grant management plays a very important role in institutions like university and colleges as it has a direct impact on the research and quality of the institutions. Universities and colleges require funds to carry out various researches and administrative functions and this funds are made available by the government and private entities in the form of grants. To manage this grants properly one needs to know all the rules and regulations. With private funders, the regulations and requirements can be adequately handled through good business and accounting practices. But it's different with governments grants especially federal grants. Uniform guidance offered by the U.S. Office of Management and Budget along with agency-specific and program specific requirements, requires that someone with the organization needs to develop an understanding of rules and regulations. While it's true knowing how to navigate the red tape is necessary, there is much more to grant management.
Read more