What is sponsored program in SAP (PSM-GM - Grants Management)?

SAP Term: sponsored program

• Component: PSM-GM

• Component Name: Grants Management

• Description: The sponsored program is a tool for grouping costs to satisfy the sponsor's view and reporting needs. It defines, in the sponsor's view and terms, a program to be funded.

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• Key Concepts: 
  A sponsored program is a type of grant program that is funded by an external organization, such as a government agency, a private foundation, or a corporation. The purpose of the program is to provide financial support to organizations or individuals for specific projects or activities. In SAP PSM-GM Grants Management, sponsored programs are managed and tracked in the system. 
  
  How to use it: 
  In SAP PSM-GM Grants Management, sponsored programs can be created and managed in the system. The system allows users to define the program parameters, such as the budget, duration, and eligibility criteria. Additionally, users can track the progress of the program and manage any associated documents. 
  
  Tips & Tricks: 
  When creating a sponsored program in SAP PSM-GM Grants Management, it is important to ensure that all of the necessary information is included in the program parameters. This includes budget information, eligibility criteria, and any other relevant details. Additionally, it is important to ensure that all documents associated with the program are properly stored and tracked in the system. 
  
  Related Information: 
  For more information about SAP PSM-GM Grants Management and sponsored programs, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information about how to use SAP PSM-GM Grants Management for managing sponsored programs.