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Acquisition

Securing the people, equipment, and other tangible resources needed to carry out project work. Obtaining these resources involves a cost to gain access, which may be monetary or take non-cash forms such as internal chargebacks, opportunity cost, or time commitments.

Key Points

  • Includes both human resources (staff, contractors) and physical resources (tools, facilities, materials).
  • Resources can come from internal departments or external suppliers, often requiring procurement or staffing actions.
  • Costs are not limited to payments; they can include internal allocations, opportunity costs, or schedule impacts.
  • Planned through resource and procurement processes; lead times and availability influence schedule and risk.

Example

On a construction project, the project manager rents a crane for two weeks and contracts a certified operator. The rental is a cash expense, while reassigning an in-house rigger from operations represents a non-cash opportunity cost due to reduced operational capacity.

PMP Example Question

Which activity best illustrates acquisition in a project context?

  1. Negotiating with a staffing vendor to bring in two developers for three months.
  2. Re-sequencing tasks to smooth out over-allocated resources.
  3. Updating the risk register after discovering a skills gap.
  4. Calculating cost performance index during monthly reporting.

Correct Answer: A — Securing needed people from an external source

Explanation: Acquisition is about obtaining human and material resources to do the work. Negotiating with a vendor to obtain developers is acquisition; the other options relate to resource optimization, risk management, or performance measurement.

Leadership for Project Managers Course

Lead with clarity, confidence, and real impact. This Leadership for Project Managers course turns day-to-day challenges—unclear priorities, tough stakeholders, and cross-functional friction—into opportunities to guide teams and deliver outcomes that matter.

You’ll learn practical leadership skills tailored to project realities: setting direction without overcontrol, creating alignment across functions, and building commitment even when authority is limited. We go beyond theory with tools you can use immediately—one-sentence visioning, stakeholder influence maps, decision framing, and feedback scripts that actually land.

Expect hands-on frameworks, real-world examples, and guided practice to prepare for tough moments—executive readouts, resistance from stakeholders, and high-stakes negotiations. Downloadable templates and checklists keep everything actionable when the pace gets intense.

Ready to influence without waiting for a bigger title? Join a community of ambitious PMs, sharpen your edge, and deliver with purpose—project after project.



Launch your career!

HK School of Management delivers top-tier training in Project Management, Job Search Strategies, and Career Growth. For the price of a lunch, you’ll gain expert insights into landing your dream PM role, mastering interviews, and negotiating like a pro. With a 30-day money-back guarantee, there’s zero risk—just a clear path to success!

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