What is involved in the “Market Survey” process in acquisition?

The "Market Survey" process in acquisition is focused on exploring and understanding the capabilities and technologies available in the industry that can meet the specific requirements of a system. This step is vital in identifying potential solutions, innovations, and product options that align with the needs of the organization.

By investigating industry capabilities and technologies, acquisition professionals can gain insights into what is currently available, emerging trends, and any gaps that may need to be addressed. This comprehensive research forms a foundation for informed decision-making when selecting systems or products for acquisition, ensuring that they meet the operational needs and requirements effectively.

While comparing manufacturers, estimating lifecycle costs, and gathering user feedback are important aspects of overall acquisition management, they do not capture the primary focus of the market survey, which is centered around evaluating the technological landscape and available solutions in relation to the identified system requirements.