Acquisitions and contracts managers are responsible for preparing and coordinating every task involved in the planning, development, and implementation of procurement programs.

Acquisition management is the management process of acquiring, usually via a contract vehicle, custom software systems. Such requirements usually form the basis of the agreement, e.g., contract, between the acquirer and the provider for the acquisition effort.

The Acquisition Management System (AMS) provides policy and guidance on lifecycle acquisition management by the United States Federal Aviation Administration (FAA).

The Electronic Federal Aviation Administration (FAA) Accelerated and Simplified Tasks (eFAST) is the FAA’s preferred contracting vehicle for small business contracts. eFAST supports the following contract types: Firm-Fixed Price, Cost Reimbursable, Time and Materials, Labor Hour and others as appropriate.

The definition of an acquisition is the act of getting or receiving something, or the item that was received. An example of an acquisition is the purchase of a house. Added two new acquisitions to my library.

Procurement is the act of buying goods and services. Acquisition covers a much broader range of topics than procurement. Acquisition spans the whole life cycle of acquired systems.

Acquisition means the acquiring by contract with appropriated funds of supplies or services (including construction) by and for the use of the Federal Government through purchase or lease, whether the supplies or services are already in existence or must be created, developed, demonstrated, and evaluated.

Types of Procurement

Here are the key steps in the procurement process:

1. Step 1: identify what’s needed.
2. Step 2: submit a purchase request.
3. Step 3: assess and select vendors.
4. Step 4: negotiate price and terms.
5. Step 5: create a purchase order.
6. Step 6: receive and inspect the delivered goods.
7. Step 7: conduct 3-way matching.