Access to new resource related to Negotiation and Project Management added to PMWL
Resource provided by Maumita Patwary
27th May 2024 – Mumbai, India – Access to a new resource has been added to the PM World Library (PMWL) related to Negotiation in Project Management. The new resource is titled “A Good Negotiation Process Leads to Success in Project Management” by Dharshini G. M. and Sai Yashas G. M. and published in the International Journal of Engineering Research & Technology (IJERT) in 2020.
The article explains that good preparation and planning are essential for successful negotiations. It highlights the importance of understanding different types of power, such as authority, knowledge, character, and rewards, which can influence the negotiation. By balancing these powers, parties can aim for fair, win-win agreements. Trust is crucial, and building it early on can lead to better outcomes for both sides. The article also warns against focusing only on price, as this can limit creativity and the overall value of the agreement.
Moreover, we get to see the introduction to BATNA (Best Alternative to a Negotiated Agreement) strategy, which provides a flexible approach compared to rigid price limits. Effective negotiation involves gathering information, building trust, and adapting to changing situations. Factors like timing, market conditions, and understanding the other party's organization and goals are important. The article concludes by emphasizing the need for a clear agreement framework and detailed preparation. It also stresses the importance of listening, asking questions, and making proposals that add value rather than just dividing existing value.
To access this resource, go to the Basic PPM Processes and Topics section of the library at https://pmworldlibrary.net/applications-and-topics/,click on “Negotiating in Project Management” and scroll down to the resource. Users must be registered and logged in to access. If not yet registered, please consider the 30-Day FREE Trial Membership at https://pmworldlibrary.net/trial-membership/
This new resource is made available through the PMWL university research internship program, to learn more, click here
