What is the Grant Lifecycle?

If you want your organization’s bids to end in successful awards, untroubled by legal issues, then you need to know the grant lifecycle. This guide explains each stage of the grant management process, from identifying funding opportunities and preparing an application to administering awarded funds and completing required reports.

What is the Grant Lifecycle? Step-by-Step Breakdown

In the United States, government organizations typically apply to federal and/or state agencies for funding. 

Receipt of a grant award relies on the following:

• Applying to the most relevant programs
• In-depth research of each program award process
• Expert grant writing
• Successfully navigating the legal compliance and administration terms and conditions set out by the funding agency

The Grant Life Cycle has three primary stages: pre-award, award, and post-award.

Pre-Award Phase

During this stage, the grantee (the organization requiring funds) identifies federal agencies and other bodies that may provide funding opportunities. Once appropriate grantmakers have been identified, the organization prepares a bid for funding. This bid is tailored to each grantmaker’s award requirements and should marry these requirements with the organization’s goals and purposes.

Award Phase

Once the bid has been made, the grantmaker has to score the application and decide whether the funding meets the following criteria:

• Meets its strategic goals and objectives
• Would be legal (e.g., whether there is a conflict of interest)
• Is it justifiable (e.g., does it guarantee that the grantee will use the funding appropriately?)

If these criteria are met, the grantmaker will issue a Notice of Award (NoA).

What is a Notice of Award (NoA)?

What is the grant lifecycle determined by? The NoA typically covers these terms. The Notice of Award is a document issued by a grantmaker that confirms the award of funding and informs the grantee of the compliance requirements for administering the grant. All federal bodies and almost all other grantmakers will provide a NoA, which is also sometimes called a NoGA (Notice of Grant Award).

Post-Award Phase

The post-award phase covers the grant’s administration, distribution, and ongoing use. During this phase, tracking grants across budgets, expenditures, milestones, and reporting deadlines helps organizations demonstrate that funds are being used for their intended purpose and in accordance with award requirements.

Who is Responsible for the Grant Lifecycle?

A grant manager oversees the grant lifecycle. This individual is the point of contact for the awarding body and also oversees the grant’s usage, ensuring that all funds are accounted for and reported accurately.

Ensuring Compliance During the Grant Lifecycle

The grant manager is ultimately responsible for legal compliance. However, most successful managers today use intelligent grant management software to help oversee every process step, from design and administration onwards.

Bringing Your Grants to Life

What is the grant lifecycle for your business? It’s something you need to understand every step of the way. The good news is that you can make that process far more efficient with grant management software. Talk to an expert from Ignyte Group today to learn more.