Contract negotiation discussion

User Generated

ZQ316

Writing

Description

Good afternoon,

you worked on my question last week and I wanted to work with you again.

Many risks exist with work that is outsourced. In fact, the risks may be greater because you do not have control over the resources like you would for a project that you are managing internally. To help reduce these risks, you should establish monitoring and control processes and procedures. They should cover the work being delivered by the vendor per the contract and tracking of the progress against the overall schedule.

Primary Task Response: Within the Discussion Board area, write 350–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Research at least 2 sources (which may include your textbook) to support your response.

  • Discuss contract negotiations, especially the terms and conditions including price, scope of work, and so on.
  • Explain how a preferred provider list would help or hinder contract negotiations for your project.
  • What tools and techniques will you use to manage your relationship with the seller or vendor?

Write 2 more paragraphs that are an introduction and conclusion to this topic. Be sure to include your references, which should follow APA format.

Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:

  • What did you learn from your classmate's posting?
  • What additional questions do you have after reading the posting?
  • What clarification do you need regarding the posting?
  • What differences or similarities do you see between your posting and other classmates' postings?

POST NEEDING RESPONSES

Post # 1 KARRIE

There is so much that has to be done in the aspect of making sure things are set in place so that the vendor and customers can make sure that they are on the same page. Anytime there is a negotiation for a project it is best to negotiate with more than one vendor so that there is variety and so the best contract possible can be set in place.

Contract negotiations is a process that involves discussing and compromising on contract terms in order to reach a final agreement between two or more parties involved in a transaction. The negotiations process is beneficial for both parties. It allows for the customer and the contractor/vendor to come up with an agreed upon budget and the outline of how to get the project done within budget, on time and the most effective way. In this process it is best to speak with more than one vendor so that the best one is chosen based on the type of project.

A preferred provider list can help this project in the aspect of every one on the list being vendors that have been used before and the quality of their work is already vouched for. It falls under the trust factor at this point. It will also assist with making sure the documents that cover the terms and conditions, price, and statement of work and whether it is or not issued. It could hinder the project in the aspect of not being able to know what is going on with the aspect of the project.

Some of the tools and techniques I would use to manage my relationship with the vendors are the GSA procurement website. It gives you information on how to collaboratively work with vendors. I would also make sure that we are in constant communication so that we are aware where the project stands and make sure that everything stays on track. I will also make sure that all of the contracts that are surrounded around the project are provided to all parties so that they are aware of details surrounded around the project.

One thing that keeps good communication in place is just by making sure that everyone understands what is being done and how it is being done. When everyone is not on the same page and left in the dark about things it can cause problems with relationships.

In conclusion, When you go into any form of negotiations it is best to be as familiar as possible with the procurement process so that you are aware of the negotiating process and everything else that is surrounded around the process of getting things off the ground.

https://www.legalmatch.com/law-library/article/contract-negotiation-basics.html

A Guide to the Project Management Body of Knowledge (PMBOK

POST #2 ANTHONY

The fundamentals of any contract negotiation strategy are to first be prepared for negotiating with a second party by knowing exactly what is needed to be performed and how soon is it needed. Understand these two basic principles will open many avenues to which a process/project can be carried out effectively. When to comes to negotiation the contract one must have a comprehensive plan in place to issue a scope of work and possibly a work schedule so each party at the negotiation table can review and ask questions should clarification of an action item is needed.

Some contracts are non-negotiable when it comes to bidding on projects that have a customer’s expected cost associated with it and requests for quotes are sent out to perspective bidders, but in this case the project could require a company that specializes in certain of the contract to which a subcontract is to be considered for a portion of the work. There are negotiation schemes that can be implemented to where two parties can negotiate pricing for the work to be done, in this episode the negotiation technique can be orchestrated. This is where cost verses liability will become an integral part of getting the subcontract administered based on the contract requirements of the prime contractor. As with this process the buyer could potentially have a preferred list of companies normally used to perform a task, however the prime contract would have their own favorite company they have a working relationship with, this can cause some reprehension by the buyer, but past performance ratings should be provided as a leveraging tools for the Prime contractor to utilize their preference.

When the final stage of the negotiation is developed the prime contractor’s number one strategy is to make the contract a win-win for both parties in the outcome. I would implement incentives in the contract to ensure the company performing certain portions of the work are compensated for meeting milestones and timeline and there would be repercussion of penalties should they missed deadlines. The maintenance of a work breakdown structure GNATT chart will be the guideline to everyone staying abreast of the progress for timely project completion.

UKN (n.d.) Purchasing and Procurement Center, 3 Fundamental Steps to Contract Negotiation Process, retrieve from; https://www.purchasing-procurement-center.com/contract-negotiation-process.html

PMBOK Guide (Mar, 2017) “A Guide to the Project Management Body of Knowledge (PMBOK)-12 Project Procurement Management” Retrieved from; https://ebooksbvd.my-education-connection.com/read/9781628253900bvd/part_1_12_xhtml

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

...


Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags