In the context of IT resource acquisition, what is Total Cost of Ownership (TCO), and how can organizations calculate it to make informed decisions?

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Q: What role does total cost of ownership (TCO) play in the decision-making process for IT resource…

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Q: In the context of information system acquisition, analyze the concept of Total Cost of Ownership…

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IT Resource Acquisition

IT resource acquisition is a vital step in project management. It involves defining the need of the projects and how to satisfy those needs. Using IT acquisition, the company can bring in the right IT resources that makes up the team. Knowing the size of the project and finding the sort of resources that are needed to fulfil the requirements of the project makes up the process of resource planning. The Project Manager may or may not be responsible for these efforts, depending upon the organization with which the person works. It will be determined by the quality of the company's work intake procedure and how firmly the administration monitors its resource pool.