Requirement FAR Part 7

An acquisition plan is a documented report that enlists cumulative costs, business operations, schedules and technical codes that will be observed during an acquisition strategy. The plan is essentially a construction of how the resources of an organization are to be used efficiently to yield quality structures. Therefore, an acquisition plan incorporates only mandatory and cost-effective requirements. Additionally, an appropriate time for which it would be cost effective to initially establish the plan is analyzed. Therefore, the requirements of an action plan are as per documented below.

General Requirements

The requirements for the general procedures state that the planning phase is to begin immediately after an agency has been identified. Thus planning should begin at the onset of a financial year. Secondly, the requirements should not be delivered to people in emergent cases ("Subpart 7.1 - Acquisition Plans | Acquisition.GOV", 2019). This is a requirement to protect initial prices from being increased unrealistically. The third general requirement states that COR shall be nominated in the early phases of the planning phase.