Acquisition vs. Procurement: What's the Difference?

Acquisition vs. Procurement: What's the Difference?

It is not uncommon for an asset under consideration to not require involvement by personnel from UVA’s Procurement Services. This may be for a variety of reasons; the acquisition may not meet the expenditure threshold, does not require competition, does not necessitate a contract review, or is not a restricted purchase. In addition, many assets being deployed are free or open-source, developed in-house, or can be purchased using the T&E Purchasing Card.

For the purposes of this guidance, only those assets requiring engagement by Procurement are considered procured. Other assets are acquired through a variety of methods. The following guidance will refer to 'acquisition' or 'acquiring' an asset in a general sense. When the terms 'procured or 'procuring' an asset are used, it should be assumed Procurment Services are involved.

In-house developed tools should be reviewed as closely as those procured or acquired. Assuring accessibility should be part of the development process, beginning at the start of a project.