Procurement is best viewed as part of a broader asset life cycle, rather than as a stand-alone process.

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Procurement is best viewed as part of the asset life cycle, since decisions about suppliers, materials, and contracts affect not just initial cost but performance, quality, and costs across the asset’s entire life. When procurement is considered early and aligned with design, construction, operation, maintenance, and eventual decommissioning, you can optimise total cost of ownership, manage risk more effectively, and ensure that the delivered asset meets long-term needs. Early supplier involvement, for example, can influence design choices to improve buildability and durability, while clear contracts and performance criteria support reliable maintenance and service levels over time. If procurement were treated as a stand-alone activity, the focus would more likely be on upfront price, potentially overlooking ongoing maintenance costs, energy use, downtime, and replacement needs that accumulate over the asset’s life. This lifecycle perspective applies across sectors and project sizes, not only in the public sector, and is the reason this view is the best approach.