Key Learning Objectives
- Understand all 6 negotiation styles, your style preference, and what it means for your negotiations
- Gain practical experience in actual negotiations working on your weaker styles
- Plan a negotiation to result in win-win outcomes
- Know the forms of bargaining power and how it operates during the contract lifecycle
- Learn how the 3 forms of ADR (alternative dispute resolution) actually operate in practice
- Explore psychological contracts and how to turn them into a powerful mechanism for high-performing contracts
- Gain influencing strategies and skills regarding internal stakeholders and peers
About the Course
Negotiation is a very important step in securing a deal that yields sustainable long-term results. To be successful, the prime objective of contract negotiations must always be to reach sustainable solutions that work in the interests of both parties – not to win short-term arguments that yield further problems down the track.
Many think of negotiation only in terms of ‘the big one’ when parties to agree to the contract. However, negotiations continue in many ways, every day, after a contract is signed. This is why this masterclass is just as critical for contract owners and managers, as it is for procurement, legal and other negotiators. Not only to skill up for ongoing negotiations, but also to constructively manage disputes
Misunderstandings between the parties are an inevitable part of any contract. These can be factual disputes, but most commonly are disputes based on different perceptions, opinions, and interpretations of the people involved. The vast majority of disputes are resolved not through the courts, but between parties using various power bases and negotiation techniques. As part of the course pre-work, you will complete an online profile which we then use to diagnose where conflict could occur and how to resolve it constructively.
Equally important to our ability to influence the other party is to influence our own internal stakeholders and peers throughout the contract lifecycle. Many times, the greatest obstacle isn’t the other party, its individuals within our own party who have different drivers, values, and internal power. We identify common internal clashes and work through targeting and communications strategies to win them over.
Who Will Benefit
A masterclass in our contract management CMP series within our CMP certification, this practical course will benefit all professionals involved in contract negotiations who seek increased levels of confidence and advanced strategies to influence the other party and internal stakeholders and peers.
How In-house Training works?
Interested in exploring how our In-house Training works?
Cost-effectiveness aside, one of the biggest benefits to our clients of in-house training is the opportunity to customise and tailor the content, delivery method and exercises of a training course to their exact needs. In order to achieve this, we follow a collaborative approach to bring the client & the trainer together to explore needs, shape content and define outcomes.
This video will give you an insight into the process and how bespoke courses are achieved. For more information please contact Holly on +61 (02) 9080 4454 or email email@example.com.
The CMP Certification Framework
The CMP provides a robust method of up-skilling and recognising an individual’s expertise and experience in contract management and procurement. Our combination of in-class teaching, facilitation, knowledge based testing and workplace evidence based examinations has been carefully crafted to not only teach knowledge and skills, but to also demonstrate how individuals can apply their knowledge to work based situations. This Certification is recognised by IIBT and IACCM.
Informa Corporate Learning is a Learning Partner of the International Association for Contract and Commercial Management (IACCM), which promotes the international standards and practices for defining and managing trading relationships.
The International Institute of Business & Technology Aust (IIBT) is a highly respected, Government approved, Australian provider of higher education and VET programs. Their suite of programs includes a University level Diploma of Business Administration, equivalent to the first year of a business related undergraduate degree at Australian Universities.
THE IIBT / INFORMA CORPORATE LEARNING ALLIANCE
IIBT and Informa Corporate Learning joined together to provide a pathway for those who complete Informa’s CMP at the Master level. All CMP Masters will receive Recognised Prior Learning (RPL): 2 units of credit in the 12 month, Higher Education, University level Diploma of Business Administration.
- Business Law (BL101)
- Management in Organisations (MGT101)
*This is a Higher Education Diploma equivalent to first year university NOT a Vocational Education Diploma.
Click here for more information.
“The group discussions were relevant and very interesting. Appreciate the extra reading material -was very valuable. I now have the confidence to ask the relevant questions.”
Principal Procurement Officer, Public Safety Business Agency
“Very interesting insights. Fantastic presentation. Great practical commercially focused course.”
Legal, Monash University
“Practical ideas and concepts to apply and to be aware of when negotiating. The instructor was very knowledgeable.”
Energy Optimiser, British Petroleum
Day 1 – Negotiating
There are five different types of negotiators. In this session, you’ll discover your style and how it may affect your negotiations.
- Find out your negotiation style
- Benchmark your style to the database
In this session, we put what we’ve learnt into practice. Using real-life negotiation scenarios, we focus on styles you are weak in, and learn to diagnose the styles as the negotiations play out.
- Practice negotiation styles you aren’t strong in
- Diagnose negotiation styles in use
Although it is cliché to speak of win-win outcomes, they are not actually difficult to achieve – with careful thought. This session shows how to make that happen.
- Solve a negotiation problem
- Positions and drivers
- BATNA and WATNAs
- Choosing the right style
- Preparing a negotiation strategy
Dealing with common problems in negotiations
- An open forum
The contract lifecycle
In this session, we explore the journey of a contract from womb to tomb and how bargaining power changes over time. We further explore the sources of this power and how to time our negotiations for the best return on investment.
- The 4 phases and 9 building blocks
- Bargaining power
Alternative dispute resolution
At times, our negotiations after contract award may not be successful. We may look towards alternative dispute resolution (ADR). This session walks you through all three forms and gives you an opportunity to solve an actual dispute.
- Post-award disputes
- The 3 types of ADR
- How the typical clause really works in practice
Day 2 – Influencing
Recap of previous day
The psychological contract
While we often focus on the written contract, it is not the most important one when it comes to influencing the other party (and indeed, people within our own organisation). The psychological contract, the unwritten obligations and rights, plays a much greater role. We’ll examine how these are formed and how to create ones that result in high-performing contracts.
- Exploring the concept and application
- The hybrid organisation
- Leadership pairs
Contract management archetypes
Research has shown that people have quite different values, behaviours, and approaches to contracts. In this session, we’ll look at the profile you completed in the course pre-work to benchmark you to the 2200 member database and see where you can identify possible conflicts far before they occur and mitigate them early.
- The six different styles
- Benchmark your profile
Influencing internal stakeholders
Many of our challenges derive from internal conflict between people and organisational units that come and go during the contract lifecycle. In this session, we look at why that occurs and work through techniques regarding how you gain influence no matter what the person or position.
- CMAs of stakeholders throughout the lifecycle
- Understanding your target – maturity
- Determining the best form of communication
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.