What is an Acquisition Plan?

An Acquisition Plan is fundamentally a comprehensive document that outlines how the acquisition of a particular system or service will be accomplished. It serves as a critical roadmap for the entire acquisition process, detailing execution strategies, timelines, and cost estimates. The plan includes essential information such as the scope of the acquisition, milestones, performance metrics, and a breakdown of resources needed to ensure successful implementation.

By setting clear expectations and guidelines, the Acquisition Plan helps stakeholders understand their roles and responsibilities within the project, the associated risks, and the procurement strategies to be utilized. It is integral to successful project management and ensures alignment among all parties involved in the acquisition process. Thus, the focus on documenting execution, timelines, and costs makes this choice the most accurate representation of what an Acquisition Plan entails.