by Jeanette Nyden | Aug 26, 2022 | contract management, contract negotiations, negotiation skills, negotiations, risk management
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...
by Jeanette Nyden | Jun 7, 2022 | best practices, Business Relationships, contract negotiations, problem solving
“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...
by Jeanette Nyden | Sep 20, 2021 | contract negotiations
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...
by Jeanette Nyden | Sep 13, 2021 | best practices, Business Relationships, negotiations
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...
by Jeanette Nyden | Sep 6, 2021 | Business Relationships, contract management
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...
by Jeanette Nyden | Aug 20, 2021 | contract management
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...
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...
