Nyden on Negotiations Podcast

3 Best Practices to Leverage Milestone Payments, Liquidated Damages and Bonuses With Lawrence A. Kane

October 25, 2021 Jeanette Nyden Season 2 Episode 13
Nyden on Negotiations Podcast
3 Best Practices to Leverage Milestone Payments, Liquidated Damages and Bonuses With Lawrence A. Kane
Show Notes

In this podcast with Lawrence A. Kane, we will discuss best practices to leverage milestone payments, liquidated damages and bonuses. All three of these contract tools have to be manageable and meaningful, and need to have a strategy to drive value to the customer/supplier relationship. Listen as we discuss these aspects of these three best practices: (1) Linking milestone payments to the SOW deliverables, (2) Avoiding unbalanced pricing, and (3) Using liquidated damages and bonuses, along with milestone payments, to drive supplier performance. 

Lawrence A Kane was inducted into the Sourcing Industry Group (SIG) Sourcing Supernova Hall of Fame in 2018 for transformational leadership in strategic sourcing, procurement, supplier innovation, and digital transformation. A member of the SIG University Advisory Board, International Association of Outsourcing Professionals (IAOP) Think Tank, and IAOP Training & Certification Committee, I helped create many of the procurement industry’s leading practices and regularly advance thought leadership as a keynote and breakout speaker at conferences. Currently responsible for strategic sourcing functional excellence at a Fortune® 50-sized corporation, he has comprehensive buy-side and deep sell-side experience, managing multibillion dollar IT and business process outsourcing deals as well as supporting multibillion dollar capture business development teams. He has been interviewed by Forbes, The Jim Bohannon Show, FOX News, Computerworld, Art of Procurement, Biz Talk Radio, Negotiations Ninja Podcast, The Sourcing Hero podcast, and more. The bestselling author of 21 books, he co-wrote The Contract Professional’s Playbook (and eLearning program) and contributed to Strategic Sourcing in the New Economy, the IAOP Outsourcing Professional Body of Knowledge (OPBOK), and many other works.

If you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below.  https://jeanettenyden.simplero.com/