The authors believe that 20%-30% of contract negotiations requiring sixty days or more to complete can experience unplanned changes that must be addressed. Unless a final review meeting is held and the original value proposition re-validated, financial and performance problems are likely. Enterprise contract managers should include the following steps in their negotiations to prevent this situation from occurring:
- Conduct a final contract review meeting.
- Assign specific responsibilities to the reviewers.
- Revalidate the value proposition against enterprise needs.
This research note will assist contract negotiation teams to understand the value and importance of the final contract review meeting and guide them through the completion of this last, but essential, step.
