To avoid embarrassment and financial cost of incurring cost disallowances on federally-sponsored projects, college and university administrators must pay particular attention to these management areas: compensation (release time, overload, and others); costs (allowable, attributable, transfers, and others); consulting; certification of time and effort; contracting; and miscellaneous concerns (technical and progress reports, cost sharing, budget/program revisions, and unrelated business income tax). (MSE)