A Quick Guide on Developing a Grant Fundable Project
Success in acquiring a grant is determined by how a project is defined before proceeding to the bid writing process. Focusing on project development means you are more likely to secure a grant. In addition, the project will be stronger and will align with your organisation’s goals.
Like any other proposal, developing a grant fundable project aims to meet and even surpass the assessor’s standards. It should concisely explain how the project will be a good investment.
Here are four key areas to focus on when developing grant fundable projects:
- Clear Objectives
Proposals with well-defined objectives and outcomes are often the opportunities deemed the most credible and worth funding. Assessors are all about looking into well-researched material about specific opportunities while also linking how the proposed solutions will answer certain needs or problems.
Also, consider how the project can be funded, whether it can generate revenue and eventual sustainability. Prioritise realistic output projections and detailed steps for execution. Define specifics such as sales models and future growth plans in the short term and long term.
- Project Management
Project objectives and management determine how the project will be executed. Typically, two types of project management methodology are used, agile or waterfall.
- Agile approach – This step-by-step approach separates a project into sprints.
- Waterfall approach – This is a linear method that divides a project into distinct phases.
Projects can be executed in either of the two types of methodologies. To make your proposal more approachable, you can use visualisations and charts that are easily understood. For example, a Gantt chart that outlines your proposed project schedule would be an excellent tool.
Your schedule should reflect external factors such as securing funding or planning permissions ahead of starting work. Your project approach should build on your organisation’s track record.
- Project Resources
Explain who will be working on your project and why. You need to strategically align team members to areas of the project where their abilities are most suitable. This way, you can work efficiently and maximise everyone’s skills. Assessors will favour your project if you can outline how you can meet your goals through workforce and resources.
You can also choose to collaborate with project partners to instill confidence in your future success. Make sure to pick partners with whom you will have a beneficial and productive relationship.
Project expenses are one key area that must be adequately justified because it will be the bottom line of consideration if your project is a valuable enough investment. Your costs should align with the size and complexity of the project.
Because your budget is the most critical element of your proposal, your funds should be individually identified and defined. Each portion should be appropriate, and you should outline specific conditions such as sources, time factors, and notes or other details that may help explain the budget.
The crux of developing a grant fundable project is that everything well defined must also be feasible. Accessors are always concerned about how a project will do in the future, and it is the potential output that will count the most. Cover these four key areas and you will be able to develop an excellent project proposal in no time!
Craigmyle Fundraising Consultants is the UK’s longest established and most consistently successful fundraising consultancy. Fund-raising consultants are a big help for various projects, and getting sound advice from experts, or specialist help to write your bid, is one of the best ways to get a grant. Schedule a consultation with us today!