A sponsored project is defined as an activity that is sponsored, or funded by an external organization, such as a federal, state, or private organization or agency.
The characteristics of a sponsored project include:
- Specific scope of work or set of specific aims
- Financial accountability and/or reporting; the funds must be separately budgeted and accounted for
- Specific period of performance
- Deliverables, including a final technical report
- Disposition of property; including intellectual property and publications