Here's how you can navigate key factors in grant administration decision-making.

The policies governing every grant can vary significantly. Therefore, thoroughly reviewing and understanding these policies is essential for maintaining project compliance. Ensuring that the budget and expenditures align with the proposed activities is just as crucial as the implementation of these activities.

One thing that drives my management of grant projects is the compliance. Both fiscal and programmatic compliance has to be the forefront of the implementation. It is important to be very familiar with all the factors that govern the funding allowability and ensure your decisions are aligned.

For federal and state grants, you will be administering the grant based on a detailed grant agreement. That agreement will specifically set forth all requirements as identified in the Notice of Funding Opportunity (NOFO) as well as what has been promised and presented in the application on which the award is based. Keep in mind that within the defined parameters of the NOFO and what was promised as the purpose of the grant in the application, there is flexibility in negotiating terms of the grant agreement. Be sure that you are able to accept all the deliverables on the timeline that is included in the grant agreement and if there is a need to make adjustments then it should be done prior to signing it.

One thing i have found helpful is seeking for clarification from the funding organization where there is unclear terms or when you're about to embark on an unfamiliar spending

Budget management for a greenfield project can sometimes be quite daunting. A lot of shifts from allocated budget items due to changes of project implementation. This is where proper communication of the deviation becomes paramount. A very clear documentation of reasons for the deviation, new budget items and how these fit in the overall scheme of the project towards project goals.

It is essentially that grant funding is monitored meticulously. Every penny must be accounted for and there must be documentation that supports the spending. A review of the budgets should take place at least quarterly and then reconciled against your banking system. This constant review will allow you the chance to make fiscal decisions as the program is being implemented and as changes are identified rather than trying to play fiscal catch up at program’s end.

For me, creating an excel document specifically for burn rate is helpful, this can be automated to with excel formats, to show you when the spending is under or over.

Grants are awarded with an end date. Most grants are to be implemented in a specific timeframe. That makes a timeline essential. It is important to know at the start of implementation the schedule of events that will drive the implementation of your project or program. If is not only important to have a timeline of the “big” things, but more importantly, have a timeline that drives the “little” things that make the BIG things successful. Your timeline should be reviewed regularly and adjustments made as needed. The presence of a timeline serves as your guide for your program and, when shared with your grantor, allows them a quick overview of your progress.

Creating a timeline at the outset of administrating a grant has far more value than just keeping track of progress. Timelines should be connected to key benchmark status reports and progress assessment rather than just setting forth periodic deadlines. Timeline can be employed as key junctures where decisions can be weighed and made to adapt and adjust the course being followed to be sure the grant outcome is accomplished based on a specified end date. Timelines offer an opportunity for others involved in the grant as known points where they can provide input and feedback which you can use to weigh whether changes in course or activities need to be made.

A tracking system with automated notification of timeline is very important in this aspect. May be a system that will notify you when an activity is close.

A major risk every grant manager should look for is inflation. This is major risk to every grant especially in a highly inflationary environment.