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Once a proposal is awarded funding, there are many steps required to ensure that all requirements are met. Tasks may include managing the budget, meeting reporting deadlines, tracking progress, and making sure all spending follows the rules set by the funder and federal guidelines like . It may also include managing subawards, contracts, or other project partners.

Effective award management begins with a thorough review of the Notice of Award (NOA), where key information such as start and end dates, allowable costs, and reporting deadlines are outlined. Principal Investigators (PIs), in partnership with research administrators, must ensure that funds are used appropriately and that the project stays on track both programmatically and financially. Any significant changes such as adjustments to the Statement of Work, scope of the project, budget reallocations, or personnel changes, need to be communicated with the Office of Research and Innovation immediately.