This chapter introduces the postaward world and suggests the basic administrative and programmatic steps to follow when implementing a new grant, whether it be for research, service, or education activities. In carrying out a project, there are a myriad of important legal, institutional, and administrative details that must be adhered to by the institution, the funding agency, and the principal investigator or project director. There are also various rules and regulations that are set forth by the funding agency and specified in the particular award. It is also necessary for all project-related activities to comply with state and local laws and ethical standards of professional and clinical conduct. This chapter helps the reader understand the initial steps for starting a funded project and identify grant reporting requirements. It also helps the reader understand budgeting and effort reporting requirements and learn about standard institutional policies and resources.