Grant panel review (i.e. the reviewing of multiple grant applications)

A funder brings together a range of experts across a discipline to review multiple grant applications. These experts will evaluate each grant application in turn and make a determination on funding across multiple applications. These experts may be appointed to a specific funding round or for a period of time. 

In addition to reviewing multiple proposals, a grant panel review involves discussion between other panel members to leverage the expertise of the whole panel. These discussions can take place in person, or via teleconference. 

Individual grant review (i.e. the review of a specific grant application) 

A funder commissions experts (usually 2 to 3) in the relevant field to provide a detailed review for a specific grant application or proposal.