Trends Report

Forrester's Contract Negotiation Framework

A Five-Phase Approach Bolsters Success By Balancing Vendor And Market Knowledge With Internal Preparation

January 13th, 2010
Christine Ferrusi Ross, null
Christine Ferrusi Ross
With contributors:
Liz Herbert , Andrew Parker , Duncan Jones , Christopher Voce , Brownlee Thomas, Ph.D.

Summary

Busy sourcing executives often get into "fire-fighting" mode when deals need finalizing — urgent contracts thrust on them by impatient business or IT users that "must get signed in the next two days" or similar situations. In this uncomfortable position, it is easy to get distracted and miss core components of an effective contract negotiation. Many clients have asked Forrester to publish its negotiation framework to act as a reference for their work and to help them avoid mistakes brought on by hectic schedules and conflicting user demands. Forrester's framework sets out a five-phase approach that helps clients capture the appropriate market knowledge they need while also marshalling the correct internal resources to achieve successful negotiations.

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