IT Procurement and Contract Negotiation Strategies

Introduction:

In today’s fast-paced technological world, organizations cannot afford to ignore or poorly manage the procurement and negotiation of IT-related agreements. The IT Procurement and Contract Negotiation course has been designed for professionals who wish to acquire the competencies necessary for effective management and negotiation of IT procurement contracts.

Participants will become familiar with procurement policies for hardware, software, and IT applications, gaining an appreciation of how to negotiate impactful, strategically relevant prices and terms.

This course is especially helpful whether you are just starting in IT procurement or are seeking to expand your knowledge. Tools and knowledge offered by this course will prepare candidates to be effective in procuring and negotiating IT contracts. Sign up now to improve your IT procurement skills, benefiting your organization.

Objectives:

Upon completion of the IT Procurement and Contract Negotiation course, participants will be able to:

• Grasp the principles of IT procurement and contract negotiation.
• Understand the components of various IT agreements.
• Devise strategies to secure contracts for IT resources.
• Manage adversities in IT procurement effectively.
• Maintain relationships with IT vendors.
• Understand legal issues in IT contracts.
• Draft and review IT procurement contracts.
• Implement IT procurement processes informed by organizational policies.
• Navigate regulatory compliance in IT procurement.
• Prepare for professional IT procurement and contract management certifications.

Training Methodology:

• Case studies
• Simulations
• Group discussions
• Games
• Workshops
• Peer evaluations

Course Outline:

Unit 1: A Foundation of IT Procurement and Contract Negotiation

• What is IT procurement, and why is it critical for the banking industry?
• Key activities in the IT procurement management process.
• Elements of IT contract negotiations.
• Goals within the IT procurement process.
• Barriers and mitigations in IT procurement.

Unit 2: Basics of IT Agreements

• Overview of IT agreements (hardware, software, IT applications).
• Types of IT contracts and their uses.
• Importance of service level agreements (SLAs) in IT contracts.
• Notable IT procurement agreements in banking institutions.
• Key clauses in IT contracts and their effects.

Unit 3: Strategies of Negotiation in IT Procurement

• Best practices for negotiating IT procurement contracts.
• Structuring and evaluating negotiation goals.
• Obstacles in vendor negotiations.
• The impact of negotiation on vendor relations.

Unit 4: Risk Management in IT Procurement

• Risks during IT procurement and their effects.
• Measures to mitigate risks in IT procurement.
• Risk management tools and methods.
• Importance of due diligence in IT system procurement.
• Application of risk management in IT contracts.

Unit 5: Legal Considerations in IT Contracts

• Legal issues in IT supply contracts.
• Data protection and intellectual property in IT contracts.
• The role of legal authorities in IT procurement.
• Ensuring compliance with contract obligations.
• Case studies on legal issues in IT procurement.

Unit 6: Managing IT Vendor Relationships

• Best practices for managing IT vendor relationships.
• Vendor performance management.
• Long-term vendor management strategies.
• The role of communication in vendor relations.

Unit 7: Drafting and Reviewing IT Procurement Contracts

• Basic principles of contract drafting and reviewing.
• Importance of common clauses in IT contracts.
• Reviewing and amending IT contracts.
• Using clear and straightforward language in contracts.
• Analyzing IT procurement contracts for quality.