Which activity focuses on acquiring external goods or services for the project?

• A. Sourcing
• B. Acquisition
• C. Procurement
• D. Contracting

Answer: (C)

Procurement is the process of obtaining external goods or services needed to complete the project. It covers planning what to buy, selecting suppliers, negotiating contracts, and managing the delivery and performance of those outside resources, ensuring they meet project requirements. This makes it the best fit for acquiring external goods or services because it encompasses the entire lifecycle of obtaining those resources.

Sourcing, by contrast, focuses on identifying potential suppliers and evaluating capabilities; contracting centers on establishing and managing the formal agreement; acquisition is often used informally and may refer to the act of obtaining but doesn’t necessarily include the full procurement lifecycle.