Who must approve the requirement and acquisition strategies?

The governance body is responsible for approving requirements and acquisition strategies because they ensure that the proposed plans align with organizational policies, regulatory compliance, strategic goals, and overall mission effectiveness. Governance typically consists of a group of individuals or a committee that oversees the project's alignment with broader objectives, including risk management and resource allocation. Their approval process helps to validate that the requirements are necessary, that the acquisition is justified, and that the approach taken is the most effective way to meet the identified needs.

Internal stakeholders may play a role in providing input or recommendations, as they are directly involved in the project or may be affected by its outcomes. Contractors and external stakeholders are typically not in a position to approve such strategies, though they may provide valuable feedback or support. However, the final authority and responsibility for approval lie with governance, ensuring that all necessary checks and balances are in place.