Acquisition in the construction industry
The term 'acquisition' is a very broad one that refers to the process of acquiring all, or part of a tangible or intangible asset or capability.
In the construction industry, acquisition might refer to:
- The acquisition of one company by another.
- Site selection and acquisition.
- Land acquisition.
- Compulsory acquisition.
- The acquisition of skills.
- The acquisition of other services or assets, such as plant acquisition.
The glossary of statistical terms, published by the Organisation for Economic Co-operation and Development (OECD), states: ‘Goods (including assets) and services are acquired by institutional units when they become the new owners of the goods or when the delivery of services to them is completed.’
STAR Procurement (a shared procurement service for Rochdale, Stockport, Tameside and Trafford Councils), Glossary of Terms, published in May 2019, suggests that acquisition is a wider concept than procurement: ‘…it is the over-arching ‘whole life-cycle’ process, of which the procurement process is a sub-section. Involving suppliers in acquisition; particularly in the pre-procurement phase can add value to the procurement process.’
[edit] Related articles on Designing Buildings
Featured articles and news
Reslating an ancient water mill
A rare opportunity to record, study and repair early vernacular roofs.
CIOB Apprentice of the Year 2025/26
Construction apprentice from Lincoln Mia Owen wins this years title.
Insulation solutions with less waste for a circular economy
Rob Firman, Technical and Specification Manager, Polyfoam XPS explains.
Recycled waste plastic in construction
Hierarchy, prevention to disposal, plastic types and approaches.
UK Net Zero Carbon Buildings Standard V1 published
Free-to-access technical standard to enable robust proof of a decarbonising built environment.
Prostate Cancer Awareness Month
Why talking about prostate cancer matters in construction.
The Architectural Technology podcast: Where it's AT
Catch up for free, subscribe and share with your network.
The Association of Consultant Architects recap
A reintroduction and recap of ACA President; Patrick Inglis' Autumn update.
The Home Energy Model and its wrappers
From SAP to HEM, EPC for MEES and FHS assessment wrappers.
Future Homes Standard Essentials launched
Future Homes Hub launches new campaign to help sector prepare for the implementation of new building standards.
Building Safety recap February, 2026
Our regular run-down of key building safety related events of the month.
Planning reform: draft NPPF and industry responses.
Last chance to comment on proposed changes to the NPPF.
A Regency palace of colour and sensation. Book review.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.