A grants management system is a guide that helps organizations choose the right and most applicable grant. Small and big organizations force their way into winning a proposed grant by presenting the best quality proposal. Amidst this, institutions are also significant partners, especially the university sector. Outsiders assume the main hindrance to winning a grant is the inability to convince the third party about what such an organization offers. However, another problem lurks with the complex chance of institutions choosing the correct grants management system. Many university institutions are research-based and are caught up in complex grant protocols.
LISTedTECH analyzed how an institution’s size may not be a vital consideration when choosing a grants management system. To ensure an accurate research analysis, LISTedTECH offers a free report that would guide institutions in picking the right grant. However, this is only free for the educational sector, while other sectors can purchase grant companies‘ reports at affordable prices. Both big and small companies participate in a grant management system. However, each has its preference and requirement. Hence, a need to know the basic categories to evaluate different grant companies.
This category describes the recipient of the grant. That is, the receiver that connects to research. Such grants seek to foster the evolution of research across institutions, with a projected view into having the product of such research beneficial to the relevant sector. Under the grantee category, there are four basic sub-categories.
Facilities (Facility grant system)
This grant system aims at improving an institution’s facility annually. Hence, it is a renewable grant. In this case, institutions can harness such grants to maintain their facilities all through their economic life.
Sponsored Project Management
Institutions can embark on vital projects with this grant, which can be awarded before or upon completing the project. Whichever form this will eventually take, the grants avail institutions of the needed resources to create more quality projects.
Compliance Grant System
The focus of this grant covers areas such as management of the animal protocol, institutional biosafety, and life sciences compliance.
Technology Transfer Grant system
Following through the chart from the idea phase to commercialization: this grant management system aims at efficiently managing this process unto its end.
This category describes the recipient of the grant whose objective is not for research.
How to Evaluate a Grant
Before applying for a grant, it is pertinent that you evaluate the grant to assess the main factors of such grant companies and the grants they give. Some of the main factors to consider include:
1. The Grant Company’s Sphere of Interest
Granters will often avail grants to institutions whose proposals are in tandem with the desired areas of interest. For example, some Granters in the educational sector are keen on having the sector improved. They seek to avail grants to aid research work that works towards this objective.
2. The Application Process
It will involve considering the eligibility requirements and application stages. It also includes taking cognizance of the application deadlines.
3. The Grant Size
At the idea stage, financial projections would have been scripted. This projection gives an institution a sense of direction towards which grant scheme to apply for, as the proceeds from such grants are vital to the management process from the idea stage to completion, like excel spreadsheet templates.
4. Present Grantees Under the Scheme
An insight into the current grantees can help give a foresight about the grant.
5. Other Factors
Mode of the grant
There is a need to assess the mode of the grant. Some grants are research-related and would seek significant support.
Knowledge of the grant company’s funding history will give an insight to the grantee of the potential of receiving such grants.
Choosing the appropriate grant management system; though poses a sense of complexity to universities, and a careful evaluation of the grant companies would assist in picking the correct grants. The reports from LISTedTECH’s research involved an analysis you can employ to guide an institution’s grant choice.