Showing 433–444 of 1824 resultsSorted by latest
This Skill Bit explains that a negotiation agreement is a binding resolution between parties, clearly defining terms, conditions, rights, obligations, and dispute resolution mechanisms. Achieving success in creating such agreements requires a willingness to compromise, open-mindedness, and the use of effective negotiation strategies. By fostering cooperation and focusing on shared interests, parties can reach an…
This Skill Bit shows that negotiation impasses occur when parties cannot reach an agreement due to various reasons like differing goals or lack of trust. To overcome impasses, parties should reassess, explore new options, seek mediation, and address underlying issues. If no resolution is possible, alternative actions like legal recourse or termination may be considered….
This Skill Bit shows that the negotiation search phase is crucial in initiating negotiation processes, focusing on information gathering, identifying key issues, and understanding the opposing party’s goals. It involves comprehensive research, data analysis, and strategy development to tailor negotiation plans. This phase fosters collaboration, reduces misunderstandings, and establishes a conducive environment for negotiations. Effective…
This Skill Bit shows that a negotiation statement of positions outlines each party’s expectations, interests, and non-negotiables before negotiations commence. It clarifies issues, goals, and potential compromises, fostering understanding and reducing misunderstandings during negotiation. This preparatory document facilitates productive discussions and can strengthen relationships between parties for future collaborations. Duration approx. 2 Min. Tier: proficiency
This Skill Bit shows that negotiation initiation is the commencement of discussions between parties to resolve conflicts or pursue shared objectives. It begins with recognizing the need for negotiation, followed by selecting relevant parties and defining negotiation parameters. This entails outlining the scope, issues, goals, and logistics. Effective initiation may involve sending a clear proposal…
This Skill Bit focuses on negotiation opening, emphasizing its significance in establishing rapport, setting objectives, and building trust between parties. It outlines the essential elements of a successful negotiation opening, including establishing a positive tone, articulating objectives, active listening, and setting ground rules. Duration approx. 2 Min. Tier: basics
This Skill Bit highlights that negotiation success relies heavily on two key factors: timing and understanding roles. Choosing the right moment to engage in discussions is critical, as is knowing who the key players are at the table. When negotiations are well-timed and involve prepared participants, the potential for favorable agreements significantly increases, leading to…
This Skill Bit shows that stakeholder obstacles encompass challenges hindering project progress, such as resistance to change, conflicting interests, limited resources, lack of buy-in, and communication barriers. Identifying these hurdles is crucial for effective stakeholder engagement and management, enabling project leaders to develop strategies for mitigation and enhance project success. Duration approx. 3 Min. Tier:…
This Skill Bit shows that stakeholder leverage refers to the amount of power or influence that a stakeholder holds in relation to a project or initiative. It encompasses factors such as financial resources, expertise, network, reputation, legal or regulatory power, and public opinion. Understanding stakeholder levers is vital for effective stakeholder engagement and management, enabling…
This Skill Bit shows that stakeholder drivers encompass the motivations guiding stakeholders’ engagement in a project. These drivers vary from economic incentives to ethical principles, impacting their participation and commitment levels. Identifying these drivers is pivotal for effective stakeholder engagement, enabling project managers to tailor strategies that address stakeholders’ diverse needs and expectations, fostering successful…
This Skill Bit provides a comprehensive guide to contract management, encompassing key areas such as contract fundamentals, legal frameworks, risk mitigation strategies, compliance requirements, and financial management. It is essential for professionals tasked with handling contract-related responsibilities across various industries. By mastering these elements, professionals can ensure legal compliance, effectively manage risks, and maintain financial…
This Skill Bit offers a comprehensive guide to contract management, covering crucial elements such as contract fundamentals, legal frameworks, risk management strategies, compliance protocols, and international contract considerations. It is an indispensable resource for professionals responsible for managing contracts across various industries, helping them navigate legal complexities, ensure compliance, mitigate risks, and effectively handle international…
