This paper investigates the technical feasibility of a smart microgrid that includes (i) exportable vehicle power system (EVPS) units, (ii) Auxiliary Power Supply (APU) units, and (iii) utility distribution system. The Cognitive Power Management (CPM) of the microgrid is introduced based on the availability of communications, to optimize operation of the overall microgird system in terms of fuel consumption. The CPM uses CAN based communications and forms the “intelligence” of the microgrid. The primary objective of this study is to provide strategies for the local and global optimal fuel consumption of the combined EVPS and APU units. To highlight the salient performance features of the cognitive microgrid, a comparison between a conventional microgrid control strategy and the cognitive power management based microgird is also performed.