From the course: Project Management Foundations: Procurement
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Procurement negotiation
From the course: Project Management Foundations: Procurement
Procurement negotiation
Have you ever negotiated something? Of course, you have. I mean, who hasn't negotiated in their personal life? Whether it's that shiny new car at the dealership that has your name written all over it, or what you'll have for dinner this evening with your significant other. Let's face it, negotiation is simply a way of life. And it's really no different in procurement management. It's just that you'll be negotiating something a little more important than what you'll have for dinner. When it comes to procurements, almost anything can be negotiated. I'm talking about everything from the usual suspects, like pricing and delivery dates, to things such as quality metrics and warranties. All of this should be outlined in the RFP, short for Request For Proposal. But that doesn't mean your vendors or even you won't want to modify them once you decide to work together. Some of the factors that could cause this to happen include: The perceived value of the vendor, complexity of requirements and…
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