Abstract
There are several benefits to developing a successful funded research portfolio, as well as several challenges inherent in funded research. The purpose of this essay is to discuss the benefits and challenges of funded research from a department chairperson's perspective. Several issues are addressed: the benefits of extramural funding; strategies for developing and sustaining a department's funded research portfolio; the impact of funding on a department's identity; the impact of a funded research program on the scholarship of a department and its graduate program; the implications of funded research for interdisciplinary cooperation; and various administrative concerns that accompany an active and extensive portfolio of funded research. The goal of this essay is to provide the reader with a more complete understanding of the positive and negative implications of funded research for a communication department.