Grant Project Management
Has your business successfully secured innovation funding? Ryan’s grant project management team will support you to meet funder reporting and compliance requirements.
Get in touch to discuss this serviceWhat Is Grant Project Management?
With our project management service, you’ll benefit from:
- Streamlined pre-project setup
- Expert reporting support
- Seamless project closure
- More time to focus on innovation
Once you have secured your grant, the list of reporting requirements from the funder doesn’t stop there. The funder needs confirmation that you are delivering the project stated in your successful application; this means reporting monthly, quarterly, and at the end of the project.
Our Approach
We’ll take care of the demanding administrative and reporting processes, so you can focus on delivering the project as stated in your successful application.
1. Pre-Project Kick-Off
Once you have received your grant offer letter from the funder, our team will support you with the initial project documentation, answering funder queries, financial forecasting, and more.
2. Project Kick-Off
To set your project off to a smooth start, we’ll help you navigate funder meetings and make sure all the project documentation is correctly set up.
3. Expert Reporting
Quarterly reports to your funding body are critical to the cash flow of your project. We’ll help prepare the required reporting documentation for each quarter, including progress reports, second-level project plans, project risk registers, financial forecasting, and project exploitation planning—without accurate reporting of these, you won’t get paid.
4. Project Change Request Navigation
If you need to make some changes, we’re here to help. We’ll guide making cost changes and project alterations to cause the least project disruption and maximise the value of the grant.
5. Seamless Project Closure
To close out your project with ease, we’ll support preparations for the final project report, meeting all funder compliance requirements for smooth project closure.
FAQs
What are Innovate UK’s project reporting requirements?
Once you’ve secured your grant, the list of reporting requirements from the funder doesn’t stop there. The funder needs confirmation that you’re delivering the project stated in your successful application. This often means reporting monthly, quarterly, and at the end of the project.
During the project, there are set reporting intervals, with required documentation and milestones.
- Progress Reporting – Provision of an updated document set, including a progress report, exploitation plan, project plan, and risk register, relating to the activities of the previous quarter.
- Financial Reporting – Identification of incurred project costs to date and updated forecasts for the remainder of the project.
- Independent Accountant’s Report (IAR) – Submission of an IAR to confirm project expenditure, aligning with costs in the financial report (an IAR is typically not required for every reporting period).
- Project Change Request – Should you require a change in the project cost profile or scope, a formal project change request needs to be completed. This needs to be supported by a suitably updated document set.
What happens after my funding application is successful?
For your project to start, you’ll need to receive and secure your grant offer letter, otherwise known as a GOL, which includes several due diligence checks. The process ensures that your company can carry out the project, as well as making sure the organisations involved are financially viable and that the costs comply with the competition. Once all these steps have been approved by the funder, the GOL is made available, and your project can start.
What happens when my project is ready for kick-off?
Once your project is ready for kick-off, you will be assigned a monitoring officer (MO) from the funder. The role of the MO is to ensure you’re delivering the project as stated within your successful grant application, in line with the funder’s compliance.
You’ll meet with the MO every quarter, along with all project partners and the project manager, to present your progress. Ahead of this meeting, you will be expected to prepare a quarterly progress report covering the following:
- Key achievements and challenges of the quarter
- Progress against plan
- Milestones and deliverables
- Financial cost information
- Updated project plan
- Updated risk register
- Updated exploitation plan
LIVE FUNDING OPPORTUNITIES
Our dedicated team of market insight experts closely monitors the funding landscape, so we can rapidly match innovative projects to worthwhile opportunities.