Defence procurement is the poor relation to a range of other policy issues located in the broader realm of defence. In general those who formulate British defence policy tend to follow the Clausewitzian tradition in which the focus of intellectual and material effort is placed on strategic art rather than the efficient preparation of the material base needed to realise these aspirations. Like their American counterparts, British officials experienced enormous problems in managing and controlling the research and development of major weapons systems from the 1950s onwards. Analysis of the British defence procurement process has also been used by economists to demonstrate the folly of successive British governments which persisted in pursuing procurement policies that wasted precious resources in the development of weapons which detracted from the process of wealth creation. The chapter also presents an overview of the key concepts discussed in this book.