Reply: What is the difference between "purchase" and "acquire" in Procurement management?

Name
E-mail
Your e-mail address will never be displayed on the site.
Subject
Message

Topic History of : What is the difference between "purchase" and "acquire" in Procurement management?

Max. showing the last 6 posts - (Last post first)
4 years 10 months ago #6692

Jonathan Emmons

Jonathan Emmons's Avatar

Hi David -

I think you probably have the gist of it ... I don't think there's any significant distinction between purchase and acquire that is relevant to the exam, but I would imagine that "acquire" is just a catch-all for any situation in which you don't own the resource as a result of paying for it. For example, I might acquire a resource as part of a barter agreement (e.g. if you design my website for me I'll allow you to advertise your business on it for free), or might rent or borrow a resource without actually buying it.

I would imagine this could also have been written as "purchase or otherwise acquire" since purchasing something is one way to acquire it, but you can acquire something without necessarily purchasing it.
4 years 10 months ago #6589

David Kornaros

David Kornaros's Avatar

P 355 of the PMBOK guide reads "Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results....". What is the difference between purchasing and acquiring? Is a purchase equated with buying? if so, does acquiring speak to renting and leasing? please advise .

Web dictionaries use these terms synonymously. Acquire = "buy or obtain (an object or asset) for oneself." Purchase = "acquire (something) by paying for it; buy."

OSP INTERNATIONAL LLC
OSP INTERNATIONAL LLC
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®

Login