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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Know how to prepare for negotiations with external organisations35%- Economic and market factors
  • 1. Inflation, exchange rates and risk factors
  • 2. Supply and demand conditions
  • 3. Market structure and competition
- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs
- Planning and resources
  • 1. Team roles and preparation plans
  • 2. Information gathering and market intelligence
- Cost and price analysis
  • 1. Cost modelling and price analysis techniques
  • 2. Types of costs and pricing structures
Topic 2: Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Impact of power balance on outcomes
  • 2. Sources of power and influence
  • 3. Relationship types and their effect on negotiation
- Application of commercial negotiations in procurement and supply
  • 1. Definitions and purpose of commercial negotiation
  • 2. Position within the CIPS procurement cycle
  • 3. Sources and management of conflict
  • 4. Team and stakeholder management in negotiation
- Types of negotiation approaches
  • 1. BATNA, target setting and reservation price
  • 2. Pragmatic and principled negotiation styles
  • 3. Collaborative / integrative (win-win)
  • 4. Distributive / competitive (win-lose)
Topic 3: Understand how commercial negotiations should be undertaken30%- Tactics and influencing methods
  • 1. Cultural and ethical considerations
  • 2. Managing concessions and deadlocks
  • 3. Persuasion and influencing techniques
- Communication skills
  • 1. Non-verbal communication and emotional intelligence
  • 2. Active listening and questioning
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Review and improvement
  • 1. Documenting agreements and lessons learned
  • 2. Evaluating results and performance

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CIPS Commercial Negotiation Sample Questions (Q118-Q123):

NEW QUESTION # 118
Which of the following are most likely to be sources of conflict that can emerge from the content of commercial negotiations? Select TWO that apply.

Answer: C,D

Explanation:
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent position - the content of negotiation:
Table Description automatically generated

Cultural differences are the source of conflict in the process of negotiation.
Requisition is an internal document raised by user or store to communicate to procurement the need to buy the product or service specified. This is merely a internal document.
Framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
LO 1, AC 1.1


NEW QUESTION # 119
Where a market consists of a large producer of a product with high market power, it is known as:

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis


NEW QUESTION # 120
A procurement team has discussed, in advance of a negotiation, what they will do if there is no agreement with the current supplier. They have decided that they will perform the services themselves in-house on a trial basis if no deal is made. Which of the following describes what they have prepared here?

Answer: D


NEW QUESTION # 121
Which of the following are tools that help procurement visualise cost breakdowns of products and services purchased from supplier?
1. Spend candlesticks
2. Spend tree
3. Aggregate expenditure model
4. Spendwaterfall

Answer: A

Explanation:
Understanding where and with whom your supplier spends their money, or understanding the 'cost breakdowns' or 'price build-up' of the goods andservices you purchase from the supplier, will help you know where and when they can offer price concessions.
Cost information can be expressed with more impact through graphs that can be created using Excel and PowerPoint or other softwares. There are two commonly used models known as 'spend waterfall' and 'spend tree'. Spend waterfall shows the build-up of costs, while the spend tree shows all the spends that an organisation makes.
There is no graph known as 'spend candlesticks'. Candlestick chart is astyle of financial chart used to describe price movements of a security, derivative, or currency.
The aggregate expenditure model is a method of calculating GDP. The aggregate expenditure model focuses on the relationships between production (GDP) and planned spending: GDP = planned spending = consumption + investment + government purchases + net exports.


NEW QUESTION # 122
Which of the following are indicative behaviours of a distributive approach to negotiating?

Answer: D


NEW QUESTION # 123
......

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