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?
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.
Start negotiations by proposing a compromise between your needs and the supplier's terms to ensure a fair agreement.
Insist on renegotiating the terms immediately to align with your project’s favorable conditions.