Here’s why you need to pay attention to the evolving legal landscape. Some tech companies are way over promising on their AI capabilities. Those of you who are critical thinkers might chalk it up to marketing fluff. But, where is the line between marketing fluff and...
If you want to keep your job in commercial contracting, you must become an expert at drafting, negotiating, and managing complex contract structures. It will be years before A.I. (Large Language Model programs) will be programed effectively enough to replace human...
In essence, normative leverage transforms the negotiation process from a transactional exchange to a collaborative partnership. By aligning values, understanding shared interests, and leveraging performance data, contract professionals can draft contracts that go...
Risk Management Goals: Minimizing, Monitoring, and Controlling Risk Minimize or mitigate risk means finding ways to reduce, the impact or loss of a risk. Efforts to minimize the risk are performed before the risk is realized whereas mitigations take place afterward in...
“The contracting world you work in is undergoing dramatic change. While the price was once the primary desired outcome in deals, customers today are demanding outcomes like innovation and digital transformation in addition to value and performance. Deals are being...
Master the use of normative leverage. Normative leverage is the skillful use of common standards, social norms, and shared interests to create an argument to gain an advantage or protect a position an organization has taken. When using normative leverage, contract...
Let’s start off with a valuable reminder: tactics are not a substitute for a real negotiation strategy. In working with thousands of negotiators, I have reached three conclusions about tactics. One, it is imperative to recognize tactics, so as not to be drawn into...
Sorry folks, but it is TRUE. For the sell-side account manager, her/his role in post-award contract management is more fully defined, recognized and valued by the supplier because it is in essence a customer satisfaction function. Buying companies tend to overlook the...
Contracts are a framework to dictate performance, not a framework for litigation. “Standard Terms and Conditions” are often misunderstood or flat out ignored. Project plans are not perfect and must be updated as changes occur. But, acceptance criteria should never...
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...
