Your vendor missed project milestones. How do you navigate renegotiating terms with them?
After a vendor misses project milestones, renegotiation is delicate but necessary. To ensure a positive outcome, consider these tactics:
- Open the conversation with understanding, acknowledging any unforeseen difficulties they've faced.
- Specify the missed milestones and express the impact on your business, stressing the need for a revised timeline.
- Propose solutions such as adjusted deadlines or compensation and invite their suggestions for mutual agreement.
How have you successfully renegotiated terms after setbacks? Your insights could help others in similar situations.
Your vendor missed project milestones. How do you navigate renegotiating terms with them?
After a vendor misses project milestones, renegotiation is delicate but necessary. To ensure a positive outcome, consider these tactics:
- Open the conversation with understanding, acknowledging any unforeseen difficulties they've faced.
- Specify the missed milestones and express the impact on your business, stressing the need for a revised timeline.
- Propose solutions such as adjusted deadlines or compensation and invite their suggestions for mutual agreement.
How have you successfully renegotiated terms after setbacks? Your insights could help others in similar situations.