Instrumentl serves as your go-to platform for managing and tracking grants. To ensure more precise tracking, Instrumentl offers a variety of status selections to help you stay organized throughout the grant application and award process.
Why Are Opportunity Statuses Important?
Opportunity statuses play a crucial role in effective grant management. Here’s why:
Track Deadlines & Get Updates: Changing a grant from 'Researching' enables you to track key deadlines and receive automatic email reminders and updates from Instrumentl.
Clear Tracking: Specific statuses like 'LOI In Progress' or 'Application Submitted' help you see exactly where each grant stands, keeping your team aligned.
Accurate Reporting: Detailed statuses enable precise reporting and insights, helping you make informed, data-driven decisions. You can learn more about exportable reports here.
By keeping opportunity statuses up-to-date, you create a clear, organized system that empowers you to manage your grants with confidence and ease.
Opportunity Status Selections
The status selections are as follows: LOI In Progress, LOI Submitted, Application In Progress, Application Submitted, Awarded-Active, and Awarded-Closed.
The following status options are available to help you track each stage of your grant journey:
LOI In Progress: For opportunities where you are currently working on a Letter of Inquiry (LOI).
LOI Submitted: For opportunities where you’ve submitted the LOI and are awaiting a response.
Application In Progress: For opportunities where you are actively working on the full application.
Application Submitted: For opportunities where the full application has been submitted.
Awarded-Active: For grants you’ve won that still require ongoing action, such as report submissions or other deliverables.
Awarded-Closed: For grants that have been successfully completed with no outstanding tasks or reports.
Using the Award Period Fields
When an opportunity is marked as ‘Awarded,’ you can also select the award period start and end dates to keep track of the duration of your grant. This optional field helps you further organize your awarded grants and track important timelines.
This is an optional field intended to make the awarded stage of a grant better organized on Instrumentl. Learn more about managing awards here.
If you have any questions about managing these statuses or setting up award periods, don’t hesitate to reach out through the chat bubble or email us at hello@instrumentl.com!