What does the 'life cycle' of a grant refer to?

The concept of the 'life cycle' of a grant broadly encompasses all phases involved from the initial submission of a proposal right through to the completion of the project funded by that grant. This cycle typically includes several key stages: identifying funding opportunities, proposal writing and submission, review and award processes, project implementation, reporting on progress, and finally, project closure and evaluation.

Understanding this life cycle is crucial for grant administrators, as each phase requires specific actions, compliance with regulations, and strategic management to ensure the successful execution of the project. It highlights the comprehensive journey of a grant—from conception to fulfillment—allowing administrators to effectively navigate each stage while meeting the expectations of funding agencies and project stakeholders.

In contrast, other responses focus on isolated elements of the grant process, such as just the writing time, the review procedure, or annual award numbers, which do not capture the holistic view implied by the term 'life cycle.'