The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right

PROCUREMENT PROCESS41Negotiating Contracts

What:	Obtaining a formal agreement in a way that leaves all involved parties better off than they would be without the agreement.
When:	Project initiation and planning.
Results:	Documentation of unambiguous, explicit commitments and a signed agreement that represents value to all.

Note: Although the process described is from the point of view of an acquirer of contract services, similar considerations are relevant when contracting to provide services.

Prepare

In the course of procurement planning and procurement initiation, learn what you can about the other party. Brainstorm about the other party’s viewpoints and perspectives. Determine who can make commitments for the other party, and always ...