The Advantage and Disadvantages of Seeking for Funds when doing a project

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TheAdvantage and Disadvantages of Seeking for Funds when doing a project

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TheAdvantage and Disadvantages of Seeking for Funds when doing a project

Projectsare very expensive for students and thus, most of the students seekhelp from individuals, companies, or institutions to aid them tocomplete either individual or group projects. As a novice researcherand about to start my first research study, I am convinced that it isgood to seek for funding from other sources. This is because, as astudent, I find it difficult to support my research study fully dueto financial constraints. However, it is risky because most of theorganizations or institution asks for extra benefits such as workingfor them for a period for them to give the grants.

Whatare the advantages of seeking funds from other sources?

Thereare some benefits that researchers get when they seek funding forother sources to aid their research. Firstly, according to Connorand Mauranen (2009), itbecomes easy for the student to carry out the research without muchhustles and limitations due to lack of finances. Consequently, thestudent will be able to access all the materials and resourcesrequired when carrying out the research. Secondly, the research studybecomes known by big institutions this creates better chances thatthe student can be involved in organizational researches in thefuture. For instance, I can access funding from my college, thestates, or the federal government because they support students whoare doing researches especially on the issues that are affecting them(Viner,Powell, &amp Green, 2004).As a result, for me to be eligible for the grant either from thestates or the federal government my research should be cross tosomething that affect the government such as poverty, hunger,economic growth, or corruption.

Disadvantage

Asdiscussed above, it is evident that getting funding from theorganizations or government organization means that the projectsmight be limited to a specific scope as compared to when funding theproject individually. Secondly, it is difficult to access thefinancial-aid offices both at the college, the state, and the federalgovernment. This is because one must make several applications of thegrant proposal is accepted. This means that the person might beforced to wait for a long time thus delaying the completion of theresearch.

However,there are work-study programs that support students doing researchstudies the chances are limited because to many students makeapplications for their research funding. Lastly, most of thefoundations provide financial support to groups doing researchthrough the university or college and not directly to the individualstudents. As a result, it is difficult to consult organizations orfoundations this means that one can only seek for assistant from thefoundations unless the resources from the college or the Universityare exhausted. As a result, it is difficult to approach financialaid from foundations or other sources as an individual (Viner,Powell, &amp Green, 2004).

Lastly,although I support the idea of seeking to fund from other sourceswhen doing research studies, I think it is important to consider therisk involved in making decisions to approach a the source.Additionally, it is paramount to consider the scope of the projectand the amount of the funding that is required. This is to ensurethat the grant given will cater for all the financial needs of theproject.

Reference

Connor,U., &amp Mauranen, A. (2009). Linguistic analysis of grantproposals: European Union research grants. Englishfor specific purposes,18(1),47-62.

Viner,N., Powell, P., &amp Green, R. (2004). Institutionalized biases inthe award of research grants: a preliminary analysis is revisitingthe principle of accumulative advantage. ResearchPolicy,33(3),443-454.

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