The document discusses several challenges of grid computing including lack of clear standards, difficulty distinguishing it from distributed computing, limited grid-enabled software, sharing resources across different types of services and organizations, complex administration and management, and limited applications. Key challenges are heterogeneity of resources, security, resource management, programming for applications, and accounting infrastructure. Benefits include exploiting underutilized resources, massive parallel processing, virtual collaboration environments, access to additional resources, load balancing, reliability, and improved management of distributed systems.