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How do you evaluate and learn from your contract negotiation outcomes?

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Negotiation analysis is a framework for evaluating and improving your contract negotiation outcomes. It helps you identify the sources of value and conflict, the alternatives and trade-offs, and the best strategies and tactics for each situation. In this article, you will learn how to apply the negotiation analysis model to your contract negotiation process and how to use it as a tool for learning and feedback.

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Rowena Herrera

Business Development Manager | Vendor Relations, New Business Development

1 Negotiation analysis model

The negotiation analysis model consists of four elements: the parties, the issues, the process, and the outcome. The parties are the individuals or groups involved in the negotiation, with their interests, preferences, and relationships. The issues are the topics or items that are subject to negotiation, such as price, terms, or scope. The process is the sequence of actions and interactions that the parties take to reach an agreement, such as communication, persuasion, or concession. The outcome is the result of the negotiation, which can be measured by the value created, the value claimed, or the value left on the table.

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2 Value creation and value claiming

One of the main goals of negotiation analysis is to help you maximize the value created and claimed in your contract negotiation. Value creation refers to the potential benefits that can be generated by finding mutually beneficial solutions, expanding the pie, or creating synergies. Value claiming refers to the actual benefits that each party obtains from the agreement, dividing the pie, or capturing the surplus. To achieve both value creation and value claiming, you need to balance cooperation and competition, integrative and distributive strategies, and joint and individual interests.

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Rowena Herrera

Business Development Manager | Vendor Relations, New Business Development
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One thing I have found helpful is to do your due diligence. Do your research and analysis. This information will allow you to present the facts and benefits of your offer; creating then a value.

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3 Alternatives and trade-offs

Another key aspect of negotiation analysis is to help you evaluate your alternatives and trade-offs in your contract negotiation. Alternatives are the options that you have outside of the negotiation, such as walking away, going to court, or finding another partner. Trade-offs are the choices that you have to make within the negotiation, such as giving up something to get something else, compromising, or bundling issues. To assess your alternatives and trade-offs, you need to compare your best alternative to a negotiated agreement (BATNA), your reservation price, and your aspiration level.

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4 Strategies and tactics

The final component of negotiation analysis is to help you choose the best strategies and tactics for your contract negotiation. Strategies are the overall plans or approaches that you adopt to achieve your objectives, such as collaborative, competitive, or mixed-motive. Tactics are the specific actions or moves that you use to implement your strategies, such as framing, anchoring, or signaling. To select the most effective strategies and tactics, you need to consider the characteristics of the situation, the parties, the issues, and the process.

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Rowena Herrera

Business Development Manager | Vendor Relations, New Business Development
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I believe this is the most important part of the negotiation process. To review the current situation at hand; then implement actions that will allow you to attain the final goal.

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5 Applying the model

To apply the negotiation analysis model to your contract negotiation, you need to follow these steps: first, analyze the four elements of the model and identify the sources of value and conflict, the alternatives and trade-offs, and the best strategies and tactics. Second, prepare for the negotiation by setting your goals, developing your arguments, and anticipating the other party's behavior. Third, conduct the negotiation by communicating clearly, listening actively, and adapting flexibly. Fourth, evaluate the outcome by comparing it to your expectations, assessing the value created and claimed, and identifying the strengths and weaknesses of your performance.

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6 Learning from the model

To use the negotiation analysis model as a tool for learning and feedback, you need to do two things: first, reflect on your contract negotiation experience and extract the key lessons and insights. Second, apply those lessons and insights to your future contract negotiations and improve your skills and results. You can also use the model to solicit and provide feedback to others, such as your colleagues, clients, or mentors, and learn from their perspectives and experiences.

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Rowena Herrera

Business Development Manager | Vendor Relations, New Business Development
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Actually I disagree with the statement that you can apply lessons and insights to future contract negotiations. There is not a single negotiation that is the same. Each negotiation contains a different variable, so lessons and experiences acquired may or may not apply to future negotiations. The insight and lessons for me would be is how did I conduct myself in the process.

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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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Gazal Daga (Jain)

Founder @ Wisely Legal | Contract Drafting | Corporate Legal Advisor | Gold medalist in Law | TCS PoSH External Memberb | Lawyer
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Always try to understand the perspectives of Parties on what went well and where improvements could be made in the Negotiation.

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How do you evaluate and learn from your contract negotiation outcomes?

1

2

3

4

5

6

7

1 Negotiation analysis model

2 Value creation and value claiming

3 Alternatives and trade-offs

4 Strategies and tactics

5 Applying the model

6 Learning from the model

7 Here’s what else to consider

Contract Negotiation

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How do you evaluate and learn from your contract negotiation outcomes?

1

2

3

4

5

6

7

1 Negotiation analysis model

2 Value creation and value claiming

3 Alternatives and trade-offs

4 Strategies and tactics

5 Applying the model

6 Learning from the model

7 Here’s what else to consider

Contract Negotiation

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