Preparing Your Risk Assessment
In preparing your grant application a risk assessment is critical. What is it and how do you go about it?
1. A risk assessment identifies not only the biggest problems your department faces in carrying out its mission but also the gap between the problem and your ability to effectively deal with it.
2. A quick way to do an assessment is to look at your last ISO rating report. That usually does a good job of identifying your biggest problems or risks such as a lack of documented training. Don't use ISO as a justification for your request - they mentioned this in grant workshops, but use the assessment to point you in the right direction to identify risks if you are having trouble doing so on your own.
3. Next determine which of these risks you cannot take care of through normal funding means.
4. Finally choose the problems that line up best with a grant program priority. Only these should go in your application.
5. Remember, even if you have a very real problem that needs to be addressed, but it does not match up with a grant priority according to the rules, it won't get funded. Read the rules, follow the rules and you will be several steps ahead of most of the people that apply for a grant.
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