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

SAP Term: preaward

• Component: PSM-GM

• Component Name: Grants Management

• Description: The term "preaward" is used to describe any grant status before the actual award. This covers the statuses "draft", "proposal", and "application".

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• Key Concepts: 
  Preaward is a term used in SAP PSM-GM Grants Management to refer to the process of evaluating and selecting grant applicants before the award is made. This includes activities such as reviewing applications, conducting interviews, and making decisions about which applicants should receive funding. Preaward activities are typically conducted by a grants management team or committee. 
  
  How to use it: 
  In SAP PSM-GM Grants Management, preaward activities are managed through the Preaward module. This module allows users to create and manage grant applications, review applications, and make decisions about which applicants should receive funding. The Preaward module also provides tools for tracking the progress of preaward activities and reporting on the results. 
  
  Tips & Tricks: 
  When using the Preaward module in SAP PSM-GM Grants Management, it is important to ensure that all preaward activities are conducted in accordance with applicable laws and regulations. Additionally, it is important to ensure that all decisions are made in a fair and impartial manner. 
  
  Related Information: 
  For more information about preaward activities in SAP PSM-GM Grants Management, please refer to the official documentation available on the SAP website. Additionally, there are many online resources available that provide guidance on how to effectively manage preaward activities in SAP PSM-GM Grants Management.