Acquire Resources is an executing process group process. Refer to the PG-KA mapping below,
Acquire Resources is all about obtaining the team members and physical resources like facilities, equipment, materials etc necessary to accomplish the project work. This process also helps with the selection of resources and their assignment to the project activities.
The resources can either be internal or external to the organization that is performing the project. Typically, internal resources are assigned by the functional or resource managers while external resources are acquired or leased through procurement process. Check out Procurement Management knowledge area for more. Note that you as a Project Manager or your Project Team may not have the authority to select vendors because of reasons like existing organization-wide agreements, matrix environment etc.
The importance of Acquire Resources process comes from the fact that not having resources may impact the project schedule, budget, customer satisfaction, quality and other areas. Not just that, insufficient resources or capabilities also decrease the probability of success. We have earlier discussed what you can do as a Project Manager if resources are not available here
Finally, Acquire Resources is not a one time activity and needs to be performed periodically throughout the project as needed.
Check more articles on Resource Management