I'm just in the process of implementing a process in CiviCRM so that we can track donations against specific projects. It would also be great if we could record the approaches we've made to organisations, so we know that for example we've approached an organisation for the full amount of funding required for project X, wait until we get a response before applying to other organisations. This would also allow us to generally report on what applications had been made and for how much.
My first ideas are to use contribution statuses or financial types to achieve this. Does anyone have experience of implementing something like this, are there any problems created from using financial types or statuses in this way?