Why Negotiating is Crucial for Project Managers
Experts claim that negotiations have an omniscient presence and life is merely a sequence of ongoing give and take. With the number of different types of stakeholders a project manager interacts with on a project, it should come as no surprise that there isn’t any shortage of negotiating opportunities during the project life cycle.
Project managers should aim to master the art of negotiating. After all, good negotiating skills are merely a subset of communication skills. Often considered a soft skill, negotiating should be more accurately seen as a soft skill with steel spikes. We strive for win-win outcomes as negotiators. Excellent negotiation skills provide a project manager with a competitive edge.
Negotiating is half the art of persuasion and half science. It’s no wonder that, with this kind of complexity, negotiating is intimidating to some. Project success often hinges on a project manager’s ability to negotiate well. If you are concerned you do not have adequate negotiating skills, please see the upcoming post on How to Improve Your Project Management Negotiating Skills.
Negotiation is often apparent in business and personal lives to resolve conflicts between parties to reach a consensus. It works best when everyone involved adopts a win-win attitude. It comes down to having an awareness of what you want and what the other party wants and forming a win-win solution. The same is true in project management, where negotiations can take place at any time during a project life cycle. A project manager must understand strategic negotiations and apply those tactics to all interactions.
Here are some great opportunities for a project manager to put his negotiating knowledge and skills to good use:
When a project manager is engaged in buying and selling activities with vendors.
When unexpected changes occur on a project, and the project manager must manage stakeholder expectations.
When a project manager is in communications with an essential potential investor, they must resolve conflicts surrounding any issues.
To build, foster, and improve relationships with various stakeholders.
While creating a positive and professional project work environment.
To resolve inevitable conflicts that arise within the project team.
Negotiating plays a vital role in a project manager's career and is crucial for meeting a project's objectives. There are certainly more instances when a project manager relies on his negotiating skills, but that is simply beyond this post's initial scope. Try identifying times in your day when you are involved in a negotiation, whether in your personal or professional life. Ask yourself if you know what to do when a potential negotiation opportunity arises. If you’d like to improve your negotiation skills, remember that you can.
