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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.

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