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You're a contract negotiator with a tight deadline. How can you manage your time more effectively?

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As a contract negotiator, you know how challenging it can be to balance multiple projects, deadlines, and stakeholders. Sometimes, you may feel overwhelmed by the pressure and the complexity of the negotiations. How can you manage your time more effectively and achieve better results? Here are some tips to help you plan, prioritize, and perform as a contract negotiator with a tight deadline.

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Osman Gani Tuhin

Foreign Direct Investment (FDI) facilitator lawyer who helps multinational companies expand operations in Bangladesh in…
Dean Lhospital

Experienced legal executive and creative, business-savvy mission catalyst.

1 Assess your situation

Before you dive into the negotiation process, take some time to assess your situation. What are the goals, expectations, and constraints of each party? What are the main issues, risks, and opportunities involved? How much time do you have to prepare, negotiate, and finalize the contract? By answering these questions, you can get a clear picture of the scope, scale, and urgency of your project. You can also identify any gaps, conflicts, or uncertainties that may affect your negotiation strategy.

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Osman Gani Tuhin

Foreign Direct Investment (FDI) facilitator lawyer who helps multinational companies expand operations in Bangladesh in a cost-effective and timely fashioned manner!
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I prioritize tasks based on urgency and importance to manage time effectively as a contract negotiator with a tight deadline. Breaking down the negotiation into smaller tasks and allocating specific time slots helps you stay organized. Utilizing time management tools like calendars and to-do lists aids in staying on track. Minimizing distractions and setting aside uninterrupted blocks of time for negotiation sessions are crucial. Effective communication with stakeholders sets realistic expectations and ensures alignment on timelines. Delegating tasks when possible and regularly reviewing progress help meet the deadline efficiently.

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2 Define your objectives

Once you have assessed your situation, you need to define your objectives. What are the outcomes that you want to achieve from the negotiation? What are the minimum and maximum terms that you are willing to accept or offer? What are the trade-offs, concessions, and alternatives that you can use to reach an agreement? By defining your objectives, you can set realistic and measurable goals for yourself and your counterparts. You can also align your objectives with your organization's priorities and values.

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Dean Lhospital

Experienced legal executive and creative, business-savvy mission catalyst.
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Establish accountability and responsibility for key terms by identifying stakeholders and their respective decision-making responsibility. It differs by organization, so legal and business stakeholder should communicate and identify which terms are business terms (could be pricing, deliverables, scope, etc.) where business stakeholders have accountability, and which terms are legal in nature (e.g. liability and indemnification, IP, warranties) where Legal, Compliance or Risk need to exercise discretion.

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3 Organize your resources

After you have defined your objectives, you need to organize your resources. What are the tools, information, and people that you need to support your negotiation? How can you access, store, and share them efficiently and securely? How can you communicate and collaborate with your team, your clients, and your counterparts effectively and professionally? By organizing your resources, you can optimize your workflow and productivity. You can also avoid wasting time, money, and energy on unnecessary or redundant tasks.

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Courtney Parker

Technology and Privacy Law, Category and Contracts Strategy Specialist
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As a contract negotiator with tight deadlines, prioritize tasks by urgency and importance. Transparent communication with stakeholders sets clear expectations. Adaptability helps navigate unexpected challenges. Enhance collaboration skills for efficient decision-making. Active listening and empathy build rapport, smoothing negotiations. Combining these soft skills with structure ensures efficient time management for successful contract negotiations. #SoftSkills #TimeManagement #ContractNegotiation ??????

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4 Schedule your activities

When you have organized your resources, you need to schedule your activities. What are the steps, milestones, and deadlines that you need to follow to complete your project? How can you allocate your time, energy, and attention to each task? How can you manage your interruptions, distractions, and stress levels? By scheduling your activities, you can create a realistic and flexible plan for your project. You can also monitor your progress and performance and adjust your plan as needed.

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5 Negotiate with confidence

Finally, when you are ready to negotiate, you need to do it with confidence. How can you establish rapport, trust, and credibility with your counterparts? How can you present your proposal, listen to feedback, and handle objections? How can you persuade, influence, and convince your counterparts to accept your terms? How can you handle conflicts, impasses, and deadlocks? By negotiating with confidence, you can demonstrate your value, professionalism, and competence. You can also achieve win-win outcomes that benefit both parties.

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6 Evaluate your results

After you have negotiated, you need to evaluate your results. How did you perform as a contract negotiator? Did you meet your objectives and expectations? Did you follow the best practices and ethical standards of your profession? What did you learn from the experience? What can you improve for the future? By evaluating your results, you can celebrate your achievements, identify your strengths and weaknesses, and plan your next steps. You can also provide feedback, appreciation, and recognition to your team, your clients, and your counterparts.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Dean Lhospital

Experienced legal executive and creative, business-savvy mission catalyst.
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While you are going through any particular negotiation with tight deadlines, keep your eyes open for ways to create upstream processes or systems that could alleviate some stress in the future. In one organization I worked with, I polled my colleagues about their most common urgent deadline situations, then I analyzed the data. Some had unavoidably urgent timelines, but many were the result of deficiencies upstream, so I created processes and resources to remove the exigency. That included creating a few new templates (to standardize terms and minimize outside paper), more structured intake (to prevent time consuming internal back-and-forth) and providing some education and resources at the front end to eliminate the time pressure.

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You're a contract negotiator with a tight deadline. How can you manage your time more effectively?

1

2

3

4

5

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1 Assess your situation

2 Define your objectives

3 Organize your resources

4 Schedule your activities

5 Negotiate with confidence

6 Evaluate your results

7 Here’s what else to consider

Contract Negotiation

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You're a contract negotiator with a tight deadline. How can you manage your time more effectively?

1

2

3

4

5

6

7

1 Assess your situation

2 Define your objectives

3 Organize your resources

4 Schedule your activities

5 Negotiate with confidence

6 Evaluate your results

7 Here’s what else to consider

Contract Negotiation

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