The Logical Framework Matrix is a tool that indicates the key factors that lead to achievement of an initiative’s goals. It provides a clear and concise summary of the project accompanied by a hierarchical list of objectives and indicators, as well as means, resources and costs implied.
As such, it is a highly effective tool to start with when deciding on the choice of funding opportunities. It can help in creating a structure for a project idea if you are truly at the beginning and do not know yet in which direction to go, and thus, need to create a logical structure that includes a clear overall goal and specific objective(s), expected results, activities, and needed funding and other resources. This tool will help you in determining whether to go after the grants (e.g. EU funds) or you need a combined funding source (e.g. crowdfunding and grants or grants and loans). The tool is recommended in the process of project planning and development.