Sneak Preview: Agencies Offer Pre-Award Risk Assessment Tools

July 27, 2016 | By Lily McManus | Post a Comment

xgran_bookshot(The following was excerpted from a recent article in the Federal Grants Development Handbook.) Officials from two state agencies shared lessons learned on conducting pre-award risk assessments, as well as advice for other federal agencies and grant applicants, during a recent webcast hosted by the Office of Management and Budget (OMB) and the Council on Financial Assistance Reform (COFAR).

During the OMB/COFAR webcast panel entitled “Promising Practices in Implementation: Risk Assessment,” representatives from the Department of Education (ED) and Department of Homeland Security (DHS) spoke with OMB Policy Analyst Rhea Hubbard  about how they developed their own risk assessment practices and tools, how they will work with applicants who receive “high risk” designations and the steps that federal agencies and grant applicants should take to prepare for the pre-award risk assessment requirement in the uniform guidance.

Under the uniform guidance, federal agencies are required to conduct risk assessments of grant applicants prior to making award decisions (§200.205) (see ¶324 in the Federal Grants Development Handbook). For competitive awards, agencies also must have outlined a risk assessment framework in funding opportunity announcements so that potential applicants are aware of the factors that the agency will consider when assessing risk.

(The full version of this story has now been made available to all for a limited time on Thompson’s Grants Compliance Expert site.)

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