by Jeanette Nyden | Jul 8, 2021 | best practices, Business Relationships, contract management, contract negotiations, customer relationship, risk management
If you have a risk that needs to be addressed in a contract, use these three questions to help you get a handle on it. It could be a new risk profile due to market constraints, a new law, or a new corporate policy. Where in your standard contract are common risks...
by Jeanette Nyden | Jun 29, 2021 | Business Relationships, contract management, contract negotiations, customer relationship, negotiations
The goal of a governance structure To design and institutionalize an effective, collaborative governance structure to deliver strategic insight. (Institutionalize, means have a system in place that works even though key individuals leave the organization, and even if...
by Jeanette Nyden | Jun 21, 2021 | Business Relationships, contract management, contract negotiations, negotiations, stakeholders
Strategic drift Occurs when the customer and supplier do not work to maintain their relationship and/or work to update strategic priorities. This typically happens after a few good months or quarters. Senior management for either organization “checks out”, moves on to...
by Jeanette Nyden | Jun 14, 2021 | Business Relationships, contract management, contract negotiations, negotiations
Performance negotiations Back-and-forth conversations to reach an agreement when the customer and the supplier do not see eye-to-eye on the solution to the performance issue. An organization’s willingness to negotiate is—at some basic level—a confession of mutual...
by Jeanette Nyden | Jun 11, 2021 | Business Relationships, contract management, contract negotiations, negotiations
Termination clauses Either for convenience or for cause, include a notice to the supplier but do not set forth the structure to unwind the business relationship. In fact, these clauses may provide incentives for the supplier to “dump and run”, stripping resources from...
by Jeanette Nyden | May 10, 2021 | Business Relationships, contract negotiations, Innovations, stakeholders, Trust
Savvy buyers Savvy buyers will often leverage market competition to seek pricing in more than one way, or with greater granularity than they may ultimately contract for. For example, buying organizations will ask for a firm fixed fee and a cost-plus management fee for...
by Jeanette Nyden | May 6, 2021 | contract management, contract negotiations, stakeholders, Words
Ok. Exaggeration alert. I don’t hate them the way I hate Okra or cleaning the litter box. But, when stakeholders think that a complex multi-Billion dollar deal can be contracted for a “fixed price” I feel like yelling WHHAAAT??. Which I don’t – or wait until I am on...
by Jeanette Nyden | Mar 30, 2021 | Business Relationships, contract management, contract negotiations, risk management
Customer/Supplier Relationships Each customer/supplier relationship will require its own level of contract management correlating to the level of interdependence and complexity. The contract professional’s goal will be to easily identify the appropriate level of...
by Jeanette Nyden | Mar 23, 2021 | Business Relationships, contract negotiations
I’ve been asked many times, “What should I do if I’m less powerful than my counterpart?” Power plays an important role in throughout the entire contract life cycle. As it relates to the contract professional, power is your ability to alter other people’s...
by Jeanette Nyden | Oct 27, 2020 | Business Relationships, performance measures, Words
There are two reasons why performance measures don’t guarantee performance. In this article, I offer a solution to developing performance measures that actually drive performance. Click here to read the first and second articles discussing the two reasons. In this...
