Step 5: Manage your award
The managing your award step, also commonly referred to as the post-award phase, represents the actual start of your research project. For the project manager this involves many tasks, for example: preparations and planning, monitoring activities and progress, managing funds, reporting, managing deviations and amendments.
The project manager is the primary individual in charge of the management of the award. Therefore, the project manager should be fully engaged in all planning and any decisions made during the project. Failure to manage the award according to the terms of the funder in a timely manner may affect future funding. It may also affect future invitations to collaborations with project partners.
The Post-award checklist and sections below provide support during Step 5 - managing your award. A bit simplified it is presented as a three-step process consisting of: