Making the most of your grant funding: The bid lifecycle 

This is the third instalment in our bid lifecycle series, where we’ll focus on the post-award phase, the stage where funding is secured and final contractual details are negotiated between you and the funder. This phase typically involves refining discussions around the project scope, timelines, funding allocations, and expected deliverables. 

Securing funding for your organisation or idea can be complicated, as discussed in our previous blog, securing funding for your innovation: The bid lifecycle. Now that the funding has been awarded, the process becomes less about navigating complex proposals and more about effective management. Successful grant management requires careful planning, continuous monitoring and maintaining clear communication with the Funder. It is important to stay focussed on areas such as compliance, financial tracking, and progress monitoring to keep everything running smoothly.  

1. Read your Grant Agreement thoroughly  

Although this may sound obvious, knowing the Grant Agreement inside out is key to smooth project delivery and is the foundation of your funding relationship. The Grant Agreement outlines the terms, conditions, and expectations of your grant, which is an amalgamation of your application and the specification of the funding call. Take time to:  

• Understand the scope of your project and the deliverables required. 
• Review financial terms, including how funds can be used and any restrictions. 
• Identify the necessary evidence of expenditure needed for claiming funds and establish procedures early on to submit promptly.
• Confirm any clauses related to non-compliance, clawback provisions (funders reclaiming part or all the grant), and penalties.  

If you have any uncertainties, talk with your fund administrator or legal advisor to clarify the agreement before signing. It’s important not to sign until you’re certain you can comply with the terms and conditions set out in this legally binding document. 

2. Establish realistic milestones and objectives  

Milestones and objectives help measure the success of your project. Together, with the Funder, you will set these out in your Grant Agreement, taken from your successful application.  For the best chance of success, make sure they’re:   

• Specific: Try and narrow down your objectives so there is little room for error and the Funder is clear on what they expect from you and the project.
• Measurable: The Funders are looking for a project where they are able to measure the success through quantifiable data.  Make sure you’re able to do this via qualitative and/or quantitative data and set out the parameters in the Grant Agreement.
• Achievable: Evaluate your team's capacity and available resources. It's advisable to have an additional team member familiar with the project's progress, so funders can reach out to them if you're unavailable for an extended period.
• Relevant: Make sure your milestones are relevant to your project and the funding call.
• Time-bound: Set realistic timelines that align with project goals. 

3. Stay on top of monitoring commitments 

Monitoring and reporting are critical aspects of grant administration as funders use these requirements to assess the impact of their investment. To stay compliant:  

• Understand reporting deadlines: Add them to your calendar and assign responsibility to the appropriate team members. 
• Collect data regularly: Avoid leaving reporting to the last minute - maintain detailed documentation of progress, finances, and impact metrics throughout the project.
• Be prepared for audits: Ensure that your financial records, invoices, and supporting documents are well organised and retained for the required duration to ensure compliance.  

Failure to meet monitoring commitments can result in funders reclaiming part or all of the grant, so plan ahead to avoid complications. 

4. Communicate proactively with your funder  

Clear and timely communication with your funder is essential. If challenges arise:  

• Notify them early: If you foresee delays or issues in meeting a milestone, inform your funder as soon as possible.  
• Propose solutions: Offer alternative plans or revised timelines to mitigate potential issues. 
• Maintain transparency: Open communication fosters trust and can lead to flexible solutions that keep your project on track.  

5. Understand the bigger picture  

Milestones are not just deadlines – they’re designed to maximise the impact of your project. Similarly, monitoring requirements are not just administrative hurdles but are crucial in demonstrating the success and sustainability of your innovation. By successfully meeting these commitments, you not only fulfil your obligations, but also strengthen your credibility for future funding opportunities.  

6. Knowledge dissemination  

As a recipient of an innovation grant, you’re often required to take part in knowledge dissemination activities following the completion of your project. Knowledge dissemination is the process of sharing and distributing information to a broad audience, ensuring that it reaches the intended recipients and remains accessible. 

Dissemination methods may include presentations, publications, workshops, and digital media engagement with relevant stakeholders, including but not limited to industry professionals, community organisations, academic institutions, and the general public. The goal of these activities is to maximise your projects impact, foster collaboration, and contribute to the broader field of innovation. Your grant agreement will outline these expectations from the beginning and should not be a surprise during your project. These activities are usually included in your final project report. 

To make sure your project’s findings are disseminated properly: 

• Identify key audiences: Understand who can benefit from your project outcomes—researchers, practitioners, policymakers, community groups, or industry leaders.
• Engage in open communication: Aim for clarity and accessibility in your messaging to ensure that information is understandable and impactful for non-specialist audiences.
• Leverage digital media: The Funder may wish to utilise social media, blogs, and video platforms to broaden the reach and engage with wider audiences so have procedures in place ready for this.
• Measure and document impact: Track engagement, gather feedback, and document knowledge transfer efforts to demonstrate the broader impact of your project. 

By adhering to these guidelines, you will not only fulfil the dissemination requirements of your grant but also contribute meaningfully to knowledge in your discipline area. 

Effective grant administration is key to making the most of your funding. By understanding your agreement, setting realistic goals, planning for monitoring requirements, and maintaining open dialogue with your funder, you can ensure your project stays on track and delivers maximum impact whilst contributing important knowledge to your field. A well-managed grant is not just beneficial for the present; it also sets the stage for future funding success.  

For more information on what grants are currently open, visit our funding page.