Negotiating Contracts for Maximum Value and Minimum Risk
Webinar Details $219
- Rated:
- Webinar Length: 100 Minutes
- Guest Speaker: Jim Bergman
- Topic: Purchasing
- Credit: ISM 1.5, ATAPU 1.5, ATATX 1.5
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This session focuses upon the commercial relationship negotiation interface. You will learn how to become an effective negotiator in the context of a commercial contracting – you will realize that negotiation is not merely an event, but rather an inter-related phase in a larger process. When should you negotiate? How can you best prepare for negotiations with commercial partners? Why are internal negotiations with stakeholders sometimes tougher than negotiating with external commercial partners? These are just some of the questions we will address in this session.
Your Benefits of Attending:
- Understand the impact of power curves in negotiations and why that is so important.
- Realize the importance and impact of negotiating before and after partner selection.
- Develop effective negotiation strategies for your commercial contracts.
- Assign effective roles to negotiation team members.
- Learn effective negotiation tips and techniques.
- Acquire hands on negotiation experience in a commercial contract.
- Create negotiation strategies that enable greater value and risk positions.
- Identify negotiation tools that are needed for negotiation success.
Join Jim Bergman and take your negotiation strategies to the next level.
- Introduction 00:01:28
- Key Benefits 00:02:27
- Topics 00:02:56
- What is Negotiation? 00:05:45
- Allocating Risk 00:07:20
- The Results V. Resources Decision 00:08:27
- Clock Diagram 00:14:57
- A Key Consideration 00:17:37
- Defining Viable/Effective Negotiation Tactics 00:25:50
- Does The Tactic Align With Broader Policies? 00:27:47
- The Golden Rule 00:30:02
- Document, Plan and Ratify Tactics 00:32:27
- Developing a Robust Negotiation Strategy Document 00:38:51
- Define The Strategic Intent/Outcome 00:40:34
- Determine The Appropriate Tactics/Counter-Tactics 00:41:41
- Resolve Positional/Principle Interest-Based Negotiation 00:42:16
- Pursuing a Positional Negotiation Approach 00:48:03
- Do We Have The Advantage or Disadvantage? 00:49:31
- Determine The Appropriate Tactics 00:57:40
- Develop Max/Target/Min Positions and Fallbacks 00:58:21
- Creating a Principle-Based Negotiation Strategy 01:01:08
- Win/Win 01:01:50
- Social Norms 01:03:42
- Tactics Include 01:09:33
- Establishing a Re-Negotiation Policy 01:11:15
- What Are We Re-Negotiating? 01:23:45
- Is Re-Negotiation In The Other Party’s Interest? 01:24:13
- Consider Short-Term and Long-Term Impact 01:24:34
- Mastering The Challenges of Internal Negotiations 01:25:33
- Asses Individual Objectives 01:28:50
- Align Conflicting Objectives 01:29:42
- Communication and Change Management Skills Are Vital 01:29:59
- Populating The Negotiation Tool Box 01:31:28
- Prioritized Wants 01:31:35
- RACI Chart For One’s Team/Stakeholders 01:32:48
- Financial Equivalent Concession Tracker 01:33:24
- Calculating Financial Equivalents 01:34:13
- What Is The Concession Worth To Me? 01:34:16
- What Is The Concession Worth To The Other Party 01:34:28
- Is There An Exchange of Value? 01:35:08
- Contracting Practitioners Must - Treat Negotiation 01:35:58
- Contracting Practitioners Must - Ensure Preparation 01:36:32
- Contracting Practitioners Must - Acquire a Portfolio 01:36:52
- How Does This Apply To Your Scenarios? 01:37:42
- Key Benefits - Understand Power Curves 01:37:48
- Key Benefits - Negotiating Before/After Partner Selection 01:38:18
- Key Benefits - Develop Effective Negotiation 01:38:20
- Key Benefits - Assign Effective Roles 01:39:14
- Key Benefits - Learn Effective Negotiation 01:39:35
- Key Benefits - Acquire Hands On Negotiation Experience 01:39:46
- Key Benefits - Create Negotiation Strategies 01:40:10
- Key Benefits - Identify Negotiation Tools 01:40:30
- Questions 01:40:33
- For Resources 01:42:21
- Thank You 01:42:23
- Presentation Closing 01:43:47
- Concession 01:01:45, 01:33:31
- Contract 00:01:48, 00:01:59, 00:02:01
- Key Performance Indicators (KPI) 00:07:35
- Negotiation 00:01:37, 00:01:42, 00:03:10, 00:03:30
- Procurement 00:23:31, 00:23:38
- Risk Allocation 00:07:13, 00:07:23
- Scopes Of Work (SOWs) 00:07:32
- Service Level Agreement (SLA) 00:07:34
- Stakeholders 00:05:05, 00:05:16
- Supplier 00:01:51, 00:02:13, 00:10:01
Concession: Is a grant of rights, land, or property by a government, local authority, corporation, individual, or other legal entity.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Key Performance Indicator (KPI) : A Key Performance Indicator is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs at multiple levels to evaluate their success at reaching targets.
Negotiation: The trading deliberations which generally lead to the lowering of prices by the vendors.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Risk Allocation: Risk allocation is the process of identifying risk and determining how and to what extent they should be shared. Most owners understand that risk is an inherent part of the construction process and cannot be eliminated.
Scope of Work (SOW): The Scope of Work (SOW) is the area in an agreement where the work to be performed is described. The SOW should contain any milestones, reports, deliverables, and end products that are expected to be provided by the performing party. The SOW should also contain a time line for all deliverables.
Service Level Agreements (SLA): A service level agreement (SLA) is a formal document that defines a working relationship between parties to a service contract.
Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
