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Bargaining in Project Management

Bargaining is a powerful tool for project managers at every level of the project. The text describes the importance of price between the buyer and the seller in relation to purchasing and supply management. The buyer wants the price generally to be low, and the seller wants the price to be high. Describe an example where a project manager must use the power of bargaining when working to complete a project on time and on budget. Provide professional examples where possible or outside research to support your views. 250 words

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In bargaining, the buyer typically wants to get the price as low as possible and the seller is interested in maximizing the price to achieve the most profit. Furthermore, bargaining is used to agree upon deadlines and quality. A project manager must use the power of bargaining when working to complete a project on time and on budget. This premise is true from the very start of a project. There is negotiation to determine the price at which work will be performed, the delivery date of each step or check point, and the quality. It is not that the client and project manager are on opposite sides, it is that each must work to understand the ...

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This detailed solution describes an example where a project manager must use the power of bargaining when working to complete a project on time and on budget. It includes examples and APA formatted reference.

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