Free PMI Project Management Professional Practice Question

During a project, you are tasked with negotiating an agreement with a key supplier. You know that the supplier has a unique product, but their terms are not favorable to your project constraints. What should be your initial approach to negotiate the agreement to ensure the project's objectives are met successfully?

  • Start negotiations by proposing a compromise between your needs and the supplier's terms to ensure a fair agreement.

  • Assess priorities and determine ultimate objective(s) before entering negotiations to understand what aspects of the agreement are critical.

  • Propose a strategic partnership with the supplier as a way to secure more favorable terms for both parties.

  • Insist on renegotiating the terms immediately to align with your project’s favorable conditions.

This question's topic:
PMI Project Management Professional / 
People
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