Prepare for Negotiations More Effectively
- IT budgets are increasing, but many CIOs feel their budgets are inadequate to accomplish what is being asked of them.
- Eighty percent of organizations don’t have a mature, repeatable, scalable negotiation process.
- Training dollars on negotiations are often wasted or ineffective.
Our Advice
Critical Insight
- Negotiations are about allocating risk and money – how much risk is a party willing to accept at what price point?
- Using a cross-functional/cross-insight team structure for negotiation preparation yields better results.
- Soft skills aren’t enough and theatrical negotiation tactics aren’t effective.
Impact and Result
A good negotiation process can help:
- Maximize budget dollars.
- Improve vendor performance.
- Enhance relationships internally and externally.
Prepare for Negotiations More Effectively Research & Tools
Start here – read the Executive Brief
Read our concise Executive Brief to find out why you should create and follow a scalable process for preparing to negotiate with vendors, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.Besides the small introduction, subscribers and consulting clients within this management domain have access to:
- Prepare for Negotiations More Effectively Storyboard
1. Before
Throughout this phase, the 12 steps for negotiation preparation are identified and reviewed.
- Prepare for Negotiations More Effectively – Phase 1: Before
- Before Negotiating Tool
Workshop: Prepare for Negotiations More Effectively
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
1 12 Steps to Better Negotiation Preparation
The Purpose
Improve negotiation preparation.
Understand how to use the Info-Tech Before Negotiating Tool.
Key Benefits Achieved
A scalable framework for negotiation preparation will be created.
The Before Negotiating Tool will be configured for the customer’s environment.
Activities
1.1 Establish specific negotiation goals and ranges.
1.2 Identify and assess alternatives to a negotiated agreement.
1.3 Identify and evaluate assumptions made by the parties.
1.4 Conduct research.
1.5 Identify and evaluate relationship issues.
1.6 Identify and leverage the team structure.
1.7 Identify and address leverage issues.
1.8 Evaluate timeline considerations.
1.9 Create a strategy.
1.10 Draft a negotiation agenda.
1.11 Draft and answer questions.
1.12 Rehearse (informal and formal).
Outputs
Sample negotiation goals and ranges will be generated via a case study to demonstrate the concepts and how to use the Before Negotiating Tool (this will apply to each Planned Activity)
Sample alternatives will be generated
Sample assumptions will be generated
Sample research will be generated
Sample relationship issues will be generated
Sample teams will be generated
Sample leverage items will be generated
Sample timeline issues will be generated
A sample strategy will be generated
A sample negotiation agenda will be generated
Sample questions and answers will be generated
Sample rehearsals will be conducted