Regard Yakou is a project manager, operations director, and experienced people manager in the construction industry. He is currently serving as the Director of Operations for Contraco, which is a construction company that operates out of Qatar. Here are some useful tips for professionals looking to negotiate and establish construction contracts successfully.
In order to negotiate and establish a contract successfully, you need to know the contractor you’re dealing with. You obviously need to know everything there is to know about the project itself, but you need to know some information about your contractor as well. This shows that you’re taking the responsibility to establish a contract seriously, which can make them more motivated to negotiate.
You also have to speak to multiple contractors to establish and negotiate a contract. If you limit yourself to only one contractor, you have zero leverage when it comes to negotiating the finer details. Research and speak with as many contractors as you can, or whoever you feel is qualified to undertake your project. Even if you have one in mind that you absolutely want to work with, have numbers on your side makes it easier to negotiate.
Treat the contractors you speak with as allies, not competitors. If you treat a contractor as your enemy during negotiations, then you’ve already established a relationship on bad terms. You’ll be working with this contractor for the duration of your project, and perhaps even more so. Treat them with respect and as if you were on the same team, because you are.
Regard Yakou has been very successful in the past when it comes to establishing contracts.