Here is a video which might be helpful for those writing grant proposals (Hat tip to Dr. Aparna Bhatnagar, Director, Postdoctoral Affairs, Northwestern University for the email alert ):

The peer review system has been the established way to select publicated research for decades. However, this way of publishing may come to an end.

New developments in this field embrace the idea that research should not be restricted by the iron grip of the journals. The value of the authors work is debated in cyberspace, leading to a number of consequences. Disadvantages include the possibility of a deluge of junk science due to the unfiltered publishing and online abuse concerning unfairly ridiculing rival's work. On the other side scientific discovery could be accelerated and online critiques may help detect mistakes or fraud more quickly.

Already the first initiatives are present, Philica, PLoS (Public Library of Science). Online journals are not boomingly popular, as they have attracted little attention so far. However, possibilities regarding reaching a broad audience in a fast way seem promising...