The ex-Canaries midfielder failed to turn the team's fortunes around after replacing Nigel Worthington and it was announced in the last hour that he will leave Carrow Road by mutual consent.
Coach Jim Duffy will replace his fellow Scot while the search for a successor begins, with the obvious candidates those who are currently out of work, notable former Brentford, MK Dons and Leicester boss Martin Allen, ex-Sheffield United boss Neil Warnock and Peter Taylor, who was sacked by Crystal Palace yesterday.
Norwich Chairman Roger Munby spoke of the aftermath of the defeat to QPR, who themselves had failed to win all season and are one of only two teams below City in the Championship table.
"We had a long discussion with Peter after the QPR game in which Peter said that he felt that he had been supported by the Club in everything that he had tried to do at Carrow Road and therefore owed it to the Board to be honest with himself and with us about whether he could turn things round," said Munby. "We would like to express our heartfelt best wishes to Peter and his family and wish him and them every success for the future."
Grant himself remained blissfully unaware of the swell of public opinion against him and the strong feelings about the abject nature of recent results and performances.
"It was a very, very difficult decision for us to make but it was right for myself and the Football Club going forward," said the former West Ham coach. "The most important things for me have always been the supporters and the Club itself. They are the two constants while managers and players come and go.
"Unfortunately for me I feel that the balls haven't bounced the right way for me over the last 12 months. I have had fantastic support from the Board from minute one right up until the time of leaving, but we are in a results-driven business and I don't like being second-best at anything.
"I would like to thank everyone for the support they have given me through a turbulent 12 months and it goes without saying that I wish nothing but success for Norwich City Football Club now and forever."
The Canaries Board are likely to have some serious thinking to do about where to look for a successor, and would be well advised to look at situations at other clubs where potential candidates may soon become available.
This observer will be watching the takeover situation at Birmingham City with interest as it appears former Norwich defender Steve Bruce could be out of a job should Hong Kong billionaire Carson Yeung complete his takeover.