The Process of Acquisition Management

Added on - Oct 2019

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Final PaperAcquisition ManagementABC[Pick the date]
Final Paper1Question 1Meaning of IT Acquisition Management:IT Acquisition Management is the process by which the companies obtain the IT resources forcarrying out various activities of business like production, management, selling of goods,procuring the raw material via the online channel etc. (Barton, 2014). The companies are wellaware of the criticality of the IT systems now-a-days and they focus on acquiring it in the rightmanner. The management of IT acquisitions involves proper planning, and procurement. Inaddition to this, the considerations like accessibility and security is also addressed.Importance of IT Acquisition Management:The information systems are the main assets for the companies now. The management isrequired because they help the company in the long run by supporting the initiatives of thebusiness. When IT acquisition happens, the companies become more responsive to theemerging opportunities and thus they get more clients for their business. Also, the acquisitionmanagement helps in identifying the essential applications and the companies set the prioritiesfor their project.Difference between IT acquisition management and commodity purchases:IT acquisition management is more of a virtual process and commodity purchases is more of aphysical process. The commodity purchases happen through the futures contracts on theexchanges that help in standardizing the quantity and the quality of the commodity that istraded. But, IT acquisition management helps in facilitating the purchases of the commodities.The purchases of commodities require physical delivery but the IT acquisition management ismostly done on the systems and everything is managed in the IT world.
Final Paper2Question 2The main purpose of organization chart:The organization chart shows the hierarchical structure and the chain of command that flows inan organization. It basically helps in making a pictorial representation of the structure of thecompany and when an outsider views it, he can easily understand that what goes on in theorganization, how the work is flowing, what is the chain of command, etc. (Isermann, 2012). Thecompany is divided into the various levels of authority and that gets depicted in the chart. Also,the chart makes it easy for the people to comprehend the relations between the departmentsand the people in the company.The main purpose of flow chart:When ideas have to be represented in a graphical manner, then flowcharts are used. With thehelp of these, the working of complex systems can be shown. The purpose of these is tovisualize something graphically that makes it more effective to understand and implement. Ithelps in explaining the process clearly with the help of symbols and texts (Froeling, 2013). Also,they help in giving a gist of the process flow in just one glance. One common use of flowchartsis that they help in creating the process documentationThe main purpose of Work Breakdown Structure (WBS):Work Breakdown Structure enables the project managers to plan their work in an efficientmanner. The main purpose of this is that it helps in reduction of the complicated activities to acollection of few tasks (Koenigsberger, 2016). This helps the project manager as the tasks canbe overseen in an effective manner than the complex activities. Since these structures aremeasurable, so the specific costs can be assigned by the project managers for each of thetasks. Then, it also helps in keeping a track of the progress of the schedule of the project.
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