There are many different European funding schemes from the European Union to help build a more economically, socially and culturally united region. They are all great opportunities for students, entrepreneurs, organisations and businesses. However, for accessing and managing these fundings, a particular skill is required: project management.
Project management for European fundings is such a needed ability that there are available online courses from various institutions and universities, tools and special agencies focused on doing it correctly.
All EU funding must be managed under some very specific guidelines, so understanding them and meeting their standards is the minimum required not to waste time and workforce. Of course, they will all vary depending on the programme you applied to.
The project management for all EU funding starts from researching what programme, funding or grant is best for you. Understanding your organisation, what needs you need to have met by the funding scheme, and your company or organisation’s current and prognosticated state or organisation is key to applying to the correct program, the best suited for your needs. Then you will need to understand how the application process will work, if you need partners and what kind of paperwork you will need.
Once you do all this research and know how to apply, you will be granted the funding — if all goes as planned — and then you will understand the demanding and time-consuming project management tasks that will need to be done to prove to the EU that funding you was a good investment. Such tasks are things like: managing resources, reporting activities, monitoring budget, negotiations with the European Commission and so on.
If you plan on applying and working with EU funding, it is guaranteed that you’ll need some top-quality project managing skills, or at least to hire a project manager. After all, it is said that 10% of the time invested in the project will be solely focused on project management tasks.