What is one key purpose of an Acquisition Plan?

One key purpose of an Acquisition Plan is to ensure best value delivery for the state. This involves a comprehensive strategy that helps streamline the procurement process, identify the needs of the state, and outline the methods by which those needs can be met in a financially responsible manner. By focusing on achieving the best value, the Acquisition Plan sets the foundation for a transparent and effective procurement strategy that balances cost, quality, and efficiency. This ultimately aims to foster a competitive environment that promotes innovation and better service delivery while safeguarding taxpayer funds.

The other options do not align with the primary objective of an Acquisition Plan. Limiting competition contradicts principles of fairness and transparency crucial in procurement. Outlining the procurement budget is a component of the plan but does not encompass the plan's broader objectives, which extend beyond just financial projections. While creating vendor relationships is beneficial, it is a means to an end—not the central aim of an Acquisition Plan which is to align procurement activities with state goals, ensuring optimal outcomes.