There are distinct and important differences in implementing USAID grants and cooperative agreements (assistance) and contracts (acquisition). Knowing the practical distinctions can help you better prepare and manage if you implement them side by side.
If you’re thinking of taking on contracts, the presentation from InsideNGO’s 2011 Annual Meeting conducted by Steve Kroll, consultant, and Deborah Hanley, ADCI/VOCA, will be instructive, as will the 2008 presentation by Steve and Chito Padilla, FHI 360. Take a look at the PowerPoints used at each session - they will reinforce distinctions such as operational and managerial considerations, payment mechanisms, substantial involvement, and treatment of fee.