Kolb is due a $7 million bonus if he's on the Cardinals' roster March 17, which Graves said is likely, given the team's current offseason plan.
"There's no reason to think at this particular point that we wouldn't proceed with ... seeing the contract through, but things change as we go down the road," Graves said in an interview on KTAR-AM in Phoenix.
Kolb said Monday he had fully recovered from a concussion that sidelined him late last season, and he plans on being in Arizona for "a long time." He signed a five-year, $63 million extension that included $20 million guaranteed after the Cardinals acquired him in a trade with the Philadelphia Eagles last summer.
Arizona has been mentioned as a possible landing spot for Peyton Manning, should the 11-time Pro Bowl quarterback be released by the Indianapolis Colts before a March 8 deadline to pay him a $28 million option bonus.
Graves also said Thursday that impending free-agent defensive end Calais Campbell will remain with the team next season, perhaps meaning the Cardinals will use the franchise tag on him.
"Calais will be with us, rest assured," Graves said, according to the team's official website. "We will continue to focus on getting a long-term deal in place, and it's a process. But he will be an Arizona Cardinals player this year, and we are hoping certainly to extend that to a long-term deal. Conversations are continuing with his agent."