Congratulations on receiving your funding!
The Principal Investigator is the primary individual responsible for the proper management of research grants, cooperative agreements, contracts or other projects with the University being the legal grantee. Without the cooperation and diligence of the PI, the university would fail in its stewardship role.
Good grants management has many elements, such as:
- Spending funds in a way that is allowable, allocable and reasonable
- Paying researchers and staff correctly and on time
- Certifying effort of all members of a research project
- Adhering to University policies
- Keeping track of equipment purchased
- Monitoring your subcontractors
- Tracking cost sharing
- Filing technical reports
- Closing out awards