We generalise Flo{}ystads theorem on the existence of monads on the projective space to a larger set of projective varieties. We consider a variety $X$, a line bundle $L$ on $X$, and a base-point-free linear system of sections of $L$ giving a morphism to the projective space whose image is either arithmetically Cohen-Macaulay (ACM), or linearly normal and not contained in a quadric. We give necessary and sufficient conditions on integers $a$, $b$, and $c$ for a monad of type [ 0to(L^vee)^atomathcal{O}_{X}^{,b}to L^cto0 ] to exist. We show that under certain conditions there exists a monad whose cohomology sheaf is simple. We furthermore characterise low-rank vector bundles that are the cohomology sheaf of some monad as above. Finally, we obtain an irreducible family of monads over the projective space and make a description on how the same method could be used on an ACM smooth projective variety $X$. We establish the existence of a coarse moduli space of low-rank vector bundles over an odd-dimensional $X$ and show that in one case this moduli space is irreducible.
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