Comprehensive and Detailed in Depth Explanation along with Exact Extract from IAM's five subject areas:
TheAcquirestage encompasses feasibility studies, planning, specification, design, procurement, and funding—the preparatory activities before an asset is commissioned.
Extract from IAM Document – Asset Management: An Anatomy (v4):
"The acquisition phase includes the activities required to define, justify, plan, design, and procure the asset."
(Section 3.4.1 – Life Cycle Stage: Acquire)
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