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

SAP Term: grant

• Component: PSM-GM

• Component Name: Grants Management

• Description: Legal instrument used to establish a funding relationship in order to carry out a public purpose in which the sponsor does not expect to be substantially involved. A grant usually contains terms and conditions for the control, use, reporting and reimbursement of sponsor funding.

Smart SAP Assistant

• Key Concepts: 
  A grant is a type of financial assistance given by an organization to another organization, individual, or group. In the context of SAP PSM-GM Grants Management, a grant is a type of funding that is provided to an organization or individual to support a specific project or activity. Grants are typically awarded based on criteria such as the applicant’s qualifications, the project’s potential impact, and the availability of funds. 
  
  How to use it: 
  In SAP PSM-GM Grants Management, grants are managed through the Grants Management module. This module allows users to create and manage grants, track grant applications and awards, and monitor grant performance. The module also provides tools for managing grant payments and reporting on grant activities. 
  
  Tips & Tricks: 
  When creating a grant in SAP PSM-GM Grants Management, it is important to ensure that all required information is included in the application. This includes details about the applicant, the project or activity being funded, and any other relevant information. Additionally, it is important to ensure that all deadlines are met and that all required documents are submitted in a timely manner. 
  
  Related Information: 
  For more information about SAP PSM-GM Grants Management, please visit the SAP Help Portal at https://help.sap.com/viewer/product/PSM_GM/latest/en-US.