Contracts and Procurement Case Study

This case study discusses the negotiation process for building an effective formal contract for the completion of an assigned project. It covers proposed contractual terms provided to the supplier, rejected or amended conditions received from the supplier, steps needed to review, negotiate and resolve all rejected and amended terms, contractual risks as per the presented changes, alternative negotiation strategies, and the impact of prolonged negotiations on schedule. It also assesses the benefits associated with a cost-neutral approach towards project and procurement costs and the risks to the project team and supplier when the milestone payment schedule is not balanced.