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Calculate funding requirements, including budget, current funding arrangements and future projections
01 / 10 / 2021
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Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements define the essential outcomes | Performance criteria specify the performance needed to demonstrate achievement of the element |
1. Identify funding requirements and context | 1.1 Identify scope and purpose of funding 1.2 Calculate funding requirements, including budget, current funding arrangements and future projections 1.3 Identify potential avenues and sources of funding 1.4 Research and gather information on all potential funding avenues and sources 1.5 Determine if funding requirements are feasible and sustainable |
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2. Develop a funding submission | 2.1 Determine funding source requirements 2.2 Prepare funding submission in accordance with funding source requirements 2.3 Determine optimum method of presenting proposal to identified funding sources 2.4 Seek legal, taxation and regulatory advice when required and ensure submission is checked by appropriate persons to ensure it meets compliance requirements 2.5 Establish how deliverables and outcomes will be evaluated and measured |
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3. Present proposal and negotiate with funding sources | 3.1 Present proposal to funding sources using appropriate presentation methods and techniques 3.2 Negotiate with funding source representatives to clarify terms and conditions of funding agreement 3.3 Evaluate submission to identify strengths and weaknesses to inform subsequent submissions |
4.Manage funding agreement | 4.1 Finalise funding agreement documentation and circulate to all parties 4.2 Establish procedures to monitor ongoing compliance and reporting requirements in accordance with funding agreement 4.3 Maintain ongoing relations with funding source to ensure mutual satisfaction with funding arrangement |
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5.Evaluate funding agreement | 5.1 Evaluate project outcomes against predetermined measures 5.2 Identify lessons learned and opportunities for continuous improvement 5.3 Identify opportunities for future funding arrangements as appropriate |
