Contract Negotiation
What you'll learn
- Gain knowledge of 9 cost elements that negotiators must master for negotiating contracts for Bought out & Supply inspection testing & commissioning -SITC types
- Get 3 resource templates that include a list of 140 contract clauses for negotiating terms and conditions for Bought out & SITC type contracts
- Get 13 more resource templates, designed to demonstrate through 5 practical illustrations on how to estimate costs using First Principle Costing methodologies
- Learn to compute costs of 9 cost elements 1 Materials 2 Manpower 3 Equipments 4 Tools /Jigs 5 Mfrg variables 6 Marketing variables 7 Overheads 8 Margins 9 Taxes
- Get a list of 53 parameters that can strengthen and enhance the robustness of clauses in contracts of Bought out & SITC types
- Get a list of 40 competencies that management must invest in to enhance negotiation skills, enabling negotiators to approach rate discussions logically
- Enhance your knowledge with 40 micro-level strategies to reduce costs, meet project timelines, and focus intensely on project qualities.
- Get a list of 40 risk mitigation strategies, including 20 strategies for managing contract rates and 20 strategies for optimising terms and conditions
- Reinforce 9 ethical principles in negotiations, emphasising the importance of ethical procurement and responsible buying practices
- Get 7 'Assignments' along with guidance instructions, to help you self-assess your learnings and build the confidence to become an exceptional negotiator.
Requirements
- An open & inquisitive mind.
- Basic understanding of English
- Qualification: Preferably a college graduates or diploma or equivalents
Description
Welcome to this course on Contract Negotiation, designed to empower professionals with advanced tools and strategies to excel in today’s dynamic business environment.
1. Master 9 Cost Elements: Develop a deep understanding of cost structures that influence contract terms, ensuring precise and informed decision-making.
2. Access 22 Templates: Use three (3) resource templates for drafting negotiation clauses (numbered as S2RT1, S2RT2 & S2RT3 in section 2) + Ninteen (19) meticulously crafted templates for accurate cost estimation ( numbered as S3R1(1) to S3RT(9) in Section 3. Each one is adaptable to diverse contract scenarios.
3. Learn Through 5 Illustrations: Gain practical insights from real-world examples of cost estimates, offering clarity and application techniques.
4. Navigate 140 Clauses: Explore an extensive list of clauses critical to various contracts to ensure comprehensive coverage and preparedness.
5. Analyse 53 Parameters: Understand the factors that influence the negotiability of clauses, enabling you to craft flexible yet advantageous terms.
6. Build 40 Competencies: Cultivate key skills classified under five heads to negotiate confidently and aggressively to create win-win
7. Apply 40 Micro Strategies: Use precise, actionable tactics to achieve incremental advantages throughout the negotiation process.
8. Mitigate Risks with 40 Strategies: Learn risk mitigation strategies vis a vis i) Rates ii) Terms and conditions
9. Adopt Ethical Principles: Ground your negotiation practices in integrity and fairness, fostering trust and long-term partnerships
Who this course is for:
- Purchasing or Contracting professionals in any business function in any Industry
- Techno-commercial professionals in any industry associated with executing such contracts
- Finance & Accounts, professional responsible for vetting purchase orders/agreements and payment processing
- Legal professionals who review legal & statutory terms in contracts
- Senior management like COOs, CEOs, or business owners who usually approve rates/ terms of contracts
- New joiners in purchase or contract functions
- Students enrolled in college/university who wish to pursue Negotiation as a career in purchase or contract functions
Instructor
- 4.8 Instructor Rating
- 115 Reviews
- 6,245 Students
- 1 Course
1. I am a Mechanical engineer with an MBA.
2.I bring 40 years of extensive professional experience, including two decades of hands-on expertise in negotiating with a diverse range of stakeholders—spanning a large number of contractors, vendors, consultants, service providers, and collaborators across a broad spectrum of national and global industries.
3. A significant portion of my career has been dedicated to Corporate Services, where I held critical leadership roles, including serving as the Audit Head overseeing technical, commercial, financial, and legal functions. My responsibilities encompassed auditing the entire value chain in large, multi-product, multi-location organisation operating within ERP-driven environments.
4. I retired as the President of the procurement and corporate services at a leading Indian company in March 2016
5. For the last two + years, I have been an author and YouTube blogger publishing articles on business ethics. Promoting the cause of business ethics amongst young professionals is my passion.
My 1st book was ranked number #1 on Amazon India within two days of launching.
6. During the last two years, I have published 72 business-related videos on my YouTube channel and 53 articles on my website.
7. As of the end of Nov 2024, my YouTube channel had 16100 hours of watch time, and the number of clicks/views (cumulative) of my articles on my YouTube channel has reached 1.1 million.
8. My hands-on experience spans various business functions in large manufacturing, real estate & hospitality industries.
9. Professional certifications include Imports-Export management ISO 9001, BS7799, and CISA from Internationally reputed Institutes. These were acquired during my working tenure