It is inevitable that envision of power systems will be based on the Smart Grid. On the other hand the energy crisis enforces utilizing renewable and clean energy through small-scale Microgrids. Interactions of these two new and growing technologies will require development of more complicated control strategies. In other words, while each Microgrid has to satisfy its own localized constraints and objectives, limitations and objectives enforced by the whole Smart Grid and/or Microgrids will require extended and more conservative constraints. The first part of the paper will provide a comprehensive review of Microgrid and Smartgrid control strategies. This review will cover clean energy stability analysis, generation control, generation forecasting, load forecasting, power management, load management, interchange analysis of Microgrids, multi-objective and multi-constraint optimization as well as load shedding on localized and global grids. Additionally, combination of some of the discussed control strategies will be discussed further through the application of an industrial tool on a real grid example.