Developing a Concept Paper

Well before you begin writing a grant, you should have a concept paper. Concept papers are one to two page overviews of a research project or idea that an investigator uses to vet and tailor their project to be a good fit for a particular funding agency. 

A concept paper can be used as a tool to allow a researcher to hone a particular research idea, but they also serve as a tool for marketing your research and networking with potential collaborators or Program Officers. You can keep concept papers on hand at conferences to give to folks you're interested in partnering with, or email them to a Program Officer to get a sense of the fit of your project for their directorate, study group, or program.

Heilmeier's Catechism is a good format to use for your concept paper.  The catechism's creator, George Heilmeier is the former Director of the Defense Advanced Research Projects Agency (DARPA) who recognized that answering the following questions are important when making a good case for funding.

What are you trying to do?
Give the reader an overview of what your project is about. Don't go into great detail but give him/her a good sense of the project.
 
How is it done today, and what are the limits of current practice?
Offer some context for your project.  Give enough background that the reader understands where your project fits in the larger story.
 
What's new in your approach and why do you think it will be successful?
Explain why what you're doing is unique, why it's important, and why it needs to be done now.

Who cares? 
Who benefits from your research and how? What are the financial, social, health, or scientific benefits from you project?
 
What are the risks and the payoffs?
What happens if things don't go as you planned, and why is your project worth taking those risks, i.e., what is the payoff and why is it worth the risk?
 
How much will it cost? How long will it take?
 
What are the midterm and final "exams" to check for success?
How will you know that you've been successful? What sort of assessment is necessary to show success or impact?

Resources:
Heilmeier Catechism: Nine Questions to Develop a Meaningful Data Science Project
Writing a Concept Paper - University of San Francisco