Project funding

We are carrying out our project

As soon as the management contract has been agreed and the first status report is submitted the project activities can begin. The project manager, who is responsible for the project progresses in accordance with the approved project plan, must ensure to name a few:

  • That the overall objective is meet
  • That the expected results and effects will be achieved
  • That the set timetable is adhered to
  • That all project partners are included in the implementation
  • The project’s finances meet all accounting requirements

The project manager is also responsible for ongoing keeping NORA informed of the project’s progression and potential difficulties in the implementation of the project. Experience shows that it is often necessary to ajust the original project’s plans during the project implementation. NORA understands that. In these cases however it is of utmost importance that all significant changes are represented to NORA’s main secretariat for approval. It can for example be a case of extending the project period, change of project participants or other adjustments in parts of the project description.

The status report form and the requisition form are two forms that are use during the project implementation.

The Status Report

This form is an important tool in the ongoing reporting about the project progression. The first status report to be filled in is regarding entering the management contract ( see under ”Our Application has been Successful), must be updated continuously in order to keep NORA informed about the project’s progression. Together with the status report there should be enclosed an appendix that expands on the project’s activities. An updated status report must always be submitted together with a requisition when the project requests project funds pay-outs. NORA can also request to be updated status report at any point during the project implementation.

Requisition

Once the management contract has entered into force and the first status report submitted, the project manager can submit a requisition for the payment of the first instalment in connection with the project's start-up. The size of the first payment must reflect the activities in the project description, but will typically amount to approx. half of the grant. NORA recommends that a maximum of two requisitions to be submitted a year. At the end of the project, NORA typically retains approx. 20-30 percent of the granted support until approved accounts and final report are submitted. When submitting a requisition, an updated status report must always be enclosed.