What is the primary role of an Acquisition Review Board?

The primary role of an Acquisition Review Board is to review significant acquisition actions to ensure compliance with established policies and procedures, as well as to evaluate the efficiency and effectiveness of the proposed acquisitions. This board serves as a governance body that assesses various aspects of acquisition proposals, including their alignment with strategic goals, regulatory compliance, resource allocation, and risk management. By doing so, the Acquisition Review Board plays a crucial role in maintaining accountability and integrity within the acquisition process, ensuring that decisions are made based on best practices and organizational standards.

The other options discuss functions that are important but do not capture the essence of the board's primary function. Pricing strategies, policy development, and managing vendor relationships are vital components of the acquisition process, but they fall outside the board's specific mandate, which focuses more on oversight and compliance rather than operational or strategic management tasks.