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Efficient Contract Administration for NICe Funded Projects: A Guide to Economic Reporting

This guide covers the essential economic issues in contract administration of a Nordic Innovation Centre (NICe) funded project. From Expressions of Interest (EOI) to final reporting, it outlines the decision-making process, cooperation agreements, budget revisions, milestone planning, disbursement procedures, and reporting requirements. The emphasis is on clear, dynamic, and outcome-oriented project management aligned with NICe principles. It details the project owner, manager, steering group roles, changes in budget, disbursement guidelines, and the importance of accurate financial reporting to maintain NICe’s interest. The guide provides a structured approach to project finalization, financial accounts management, and reporting routines, including status reports, economic reports, expert reports, and administrative reports. The goal is to create high-quality publications in English following NICe guidelines, catering to the public's needs and fostering innovation.

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Efficient Contract Administration for NICe Funded Projects: A Guide to Economic Reporting

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  1. Contract Economic issues Reporting Administration of a NICe funded project

  2. EOI Application Decision by board Cooperation agreement Signed revised budget Contract signed Invoice: 50% of grant first year From EOI to Project in NICe

  3. Principles: Clear, easy to understand General terms and conditions 6 annexes Dynamic The essential: The core of the project Marked oriented outcome NICes interest in the project The contract

  4. www.nordicinnovation.net > Application process Basis for the agreement between the project and NICe Some important elements: Project owner Project manager Steering group Cooperation agreement Material changes Changes of lesser significance Milestone plan and deliverables Results and rights General terms and conditions

  5. Changes in budget Disbursement: When contract is signed: 50% of first year’s grant Status report: Reminding 50% + 50% of next year’s grant Finalization of project: Reminding 50% All deliverables have been fulfilled + reports approved Disbursed against invoice NICe make payments to project manager only Economy

  6. Each project keep their own accounts of their actual costs Project manager keeps overall account for the entire project Audited financial report by end of project Accounts

  7. Why report? Are you sticking to the plan? Economy Because NICe is interested Because what you do is important and interesting Reporting routines

  8. Status reporting End of calendar year Deadline: Jan. 20, 2007 When project is finalized Deadline: within date of project finalization When to report

  9. Milestone/activity plan Deviations/challenges/problems Economic report Indications, preliminary results and conclusions Status reporting

  10. Administrative report Expert report Project finalization

  11. NICe Report Goal: Create a well-known, high quality series of Nordic publications within the theme innovation. General: Language: English First 1-7 pages: NICe guidelines Target group: the public The rest of the report: Formed after your wishes and needs Expert report

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