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Step 5: Stay Aligned

In: Contracting in the New Economy

Author

Listed:
  • David Frydlinger

    (Cirio Law Firm)

  • Kate Vitasek

    (University of Tennessee at Knoxville)

  • Jim Bergman

    (Commercial Officers Group, Inc)

  • Tim Cummins

    (World Commerce & Contracting)

Abstract

In this chapter, the focus is on Step 5, Stay Aligned. In this step, the parties typically begin to architect the deal points—such as scope, price, liability, and performance. The guiding principles form a framework, ensuring that the parties remain true to the spirit of their relationship, the prevailing social norms, and the text of the contract document. Step 5 helps the parties stay aligned. A key part of staying aligned is for contracting parties to openly accept the fact that complete planning is impossible. Rather, they develop and follow a governance structure specifically designed to manage change and uncertainty to stay in continual alignment as the parties move forward. This chapter provides proven tips and tools for moving through this step of the process.

Suggested Citation

  • David Frydlinger & Kate Vitasek & Jim Bergman & Tim Cummins, 2021. "Step 5: Stay Aligned," Springer Books, in: Contracting in the New Economy, edition 1, chapter 0, pages 239-257, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-65099-5_16
    DOI: 10.1007/978-3-030-65099-5_16
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