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Post-award services are basically non-existent outside of academia.

Almost 70 percent of the costs of contract management are incurred post-award, according to the survey “When Technology Meets Humanity: The Future of Contract Management.” Your contract management strategy should recognize that the true value of a contract is in its performance, not necessarily in its negotiation.

Offering Post Award Services to clients will provide a service that is difficult to administer and manage without correct expertise.

We can help businesses be more successful and financially appealing by helping our clients reduce risk, minimize error and fulfill agency requirements, creating confidence regarding the appropriate use of funding.

In addition, we can strengthen the financial section of the grant by demonstrating that the awardee is consciously concerned and actively seeking appropriate oversight and management of funds.

What is post-award analysis?

Post Award is what happens once you receive an external award such as a grant, contract or cooperative agreement. 

It includes:

• Implementation
• Monitoring expenses
• Reporting
• Billing
• Closeout

There are multiple components to post award and each section is vital to the receipt and administration of the external award.

The components of post-award at a minimum would include:

1. Receiving the award
2. Negotiations
3. Implementation (setting up accounts, budgets, and expensing processes)
4. Financial administration
5. Monitoring and reporting
6. Closeout
7. Record keeping

To learn more about LSI’s post-award services, please contact us below!