The project management concept of planning purchases and acquisitions is absolutely essential for the project management team and or the project management team leader to complete in a timely manner in order to establish an accurate representation of the specific and complete listing of the particular items that must be purchases and acquired for the sake and assistance in developing an accurate preliminary budget. Specifically, the act of planning purchasing and acquisitions refers to the particular project management process in which the project management team and or project management team leader undertake the efforts to create a complete and thorough determination of exactly which items must be purchases or acquired in the fulfillment of this project, as well as the process of making a careful and when possible accurate determination of exactly when in the course of the to acquire those items and the means with which to purchase them
This term is defined in the 3rd edition of the PMBOK but not in the 4th.