What is award in SAP PSM-GM - Grants Management?

SAP Term: award

• Component: PSM-GM

• Component Name: Grants Management

• Description: A pledge to provide sponsored funds to a grantee, to be used in accordance with the wishes of the sponsor. See also: competitive award

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• Key Concepts: 
  Award is a term used in SAP PSM-GM Grants Management to refer to a grant or other type of funding that is given to an organization or individual. It is typically used to fund a specific project or program. Awards can be made in the form of cash, goods, services, or other resources. 
  
  How to use it: 
  In SAP PSM-GM Grants Management, awards are created and managed through the Award Management module. This module allows users to create and manage awards, assign awardees, and track the progress of awards. It also provides reporting capabilities for tracking the performance of awards. 
  
  Tips & Tricks: 
  When creating an award in SAP PSM-GM Grants Management, it is important to ensure that all relevant information is included in the award record. This includes the award amount, duration, and any other relevant details. Additionally, it is important to ensure that all awardees are properly assigned to the award and that their contact information is up-to-date. 
  
  Related Information: 
  For more information on SAP PSM-GM Grants Management and how to use it, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips for using this software.