Getting a Good Deal: Negotiating Extractive Industry Contracts from edX

Many resource-rich countries negotiate complex contracts to govern mining, oil, or gas projects. Despite the critical importance of these contracts in determining the risks and benefits of these projects, many developing country governments face disadvantages in the negotiation process. This can be because of asymmetric information or expertise, lack of preparedness, power imbalances, and other factors. This course examines the challenges governments face in negotiating strong contracts, and strategies that governments can use to address these challenges and increase the chances of negotiating a good deal.

This course is for:

Mid- to senior-level government officials, including those with decision making authority, who work in ministries and departments involved in policy design, implementation, and compliance; officials from state-owned enterprises; members of parliament; parliamentary staffers; and researchers
Civil society leaders with a track record of analysis, oversight, and policy advocacy around the governance of extractive industries
Academics and doctoral students undertaking applied research or teaching on the governance of natural resources
Professionals from development agencies, including consultancies, aid agencies, and international financial institutions
Representatives from extractive industry associations such as chambers of energy and minerals or country-level industry think tanks
Law students or those who wish to better their knowledge on how to examine, plan, and execute the negotiation process.

What you'll learn

The role of contracts within a country’s policy and its legal frameworks.
How government preparation is critical to its success in contract negotiations.
Practical strategies that can support government negotiators.
How a contract’s success also depends on a government’s ability to monitor and enforce implementation and compliance.

Lessons you will learn during the course include:

The success of contract negotiations and of the extractive projects they involve depend on the right government policies, strategies, legal and regulatory frameworks being in place.
While the flexibility contracts afford may be beneficial, contract negotiations introduce a number of challenges and risks. However, there are a number of practical strategies that can support government negotiators.
Model contracts can help manage the risks and challenges of contracts and contract negotiations, including by narrowing the scope of negotiations.
Much of the work of negotiations happens before anyone sits down at the table and how a government prepares is critical to its success.
A government’s work doesn’t conclude with the end of negotiations. Once a contract is signed, its success depends on a government’s ability to monitor implementation and enforce compliance.
Both parties may also wish to renegotiate specific parts of the contracts if significant changes to the project change the bargain. Governments should approach renegotiations with the same preparations and strategies as they approach negotiations

What's inside

Syllabus

Module I: The Policy and Legal Context Around Contract Negotiations ****

Module II: Preparing for Negotiations

Module III: Negotiations and the Aftermath

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches methods for officials working in the policy design and implementation departments of government that enable them to negotiate contracts with extractive industry parties

Introduces students to the complexities involved in negotiating contracts for extractive industry projects and the disadvantages governments face when doing so

Examines how government preparation can support them in their negotiation processes

Taught by Zorigt Dashdorj from the World Bank, who brings expertise in negotiation

Involves Herbert P M’cleod as an instructor, an expert in contract dispute resolution

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Getting a Good Deal: Negotiating Extractive Industry Contracts with these activities:

Watch video tutorials on negotiation

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Videos can be a helpful way to learn about different negotiation techniques.

Browse courses on Negotiation

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Search for video tutorials on negotiation on YouTube or other online platforms
Choose a few videos that look interesting and relevant
Watch the videos and take notes
Pause the videos to try out the techniques that you are learning
Discuss the videos with other students or your instructor

Review 'Negotiation' by Gavin Kennedy

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Knowing the fundamentals of negotiation will help you in not only this course, but in your future career.

View Basics Interactive Design: User Experience... on Amazon

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Break the book up into 4 sections and read one section per week
Take notes as you read each section
Go back and review your notes after you have finished each section
Do the practice exercises at the end of each chapter
Apply what you have learned to real-world situations

Form a study group

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Working with peers can help you learn and retain the material better.

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Find a few other students who are taking the same course
Meet regularly to discuss the course material
Quiz each other on the key concepts
Work together on practice exercises
Provide feedback and support to each other

Five other activities

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Attend a negotiation workshop

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Attending a negotiation workshop can help you to gain practical skills and knowledge.

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Search for negotiation workshops in your area
Choose a workshop that fits your needs
Register for the workshop
Attend the workshop and participate in the activities
Follow up with the workshop organizers after the event

Negotiation role-playing exercises

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Practice different negotiation techniques in a safe environment.

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Find a partner who is also taking this course
Choose a negotiation scenario as given by your instructor
Take turns playing the role of the negotiator and the other party
Use different negotiation techniques that you have learned
Debrief after each exercise to discuss what went well and what could be improved

Create a study guide

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A study guide can help you organize and retain the information you learn in this course.

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Gather your notes, handouts, and other course materials
Identify the key concepts and topics covered in the course
Create a study plan schedule that includes time to review your materials and complete practice exercises
Organize your materials in a way that makes sense to you
Regularly review your study guide to reinforce your learning

Negotiate a contract with a friend or family member

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Putting your negotiation skills into practice will greatly improve your learning experience.

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Choose a topic for the contract
Research the topic and the relevant laws
Draft a contract
Negotiate the contract with your friend or family member
Finalize and sign the contract

Write a summary of this course

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Summarizing the main points of this course will help you to consolidate your learning.

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Review your notes and handouts
Identify the key concepts and topics
Organize the concepts and topics in a logical way
Write a clear and concise summary
Proofread your summary and make any necessary revisions

Career center

Learners who complete Getting a Good Deal: Negotiating Extractive Industry Contracts will develop knowledge and skills that may be useful to these careers:

Contract Negotiator

Contract Negotiators are responsible for negotiating the terms of contracts. They work with both internal and external stakeholders to ensure that all parties are satisfied with the final agreement. This course can help Contract Negotiators understand the challenges and strategies involved in negotiating contracts, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Contract Negotiators.

See salaries and explore the career path for Contract Negotiator

Business Development Manager

Business Development Managers are responsible for developing and implementing strategies to grow their businesses. They work with customers, partners, and other stakeholders to identify opportunities and build relationships. This course can help Business Development Managers understand the role of contracts in business development and how to negotiate contracts that are beneficial to their businesses. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Business Development Managers.

See salaries and explore the career path for Business Development Manager

Consultant

Consultants provide advice and expertise to businesses and organizations. They work on a variety of projects, including contract negotiations. This course can help Consultants understand the challenges and strategies involved in negotiating contracts, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Consultants.

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Corporate Lawyer

Corporate Lawyers provide legal advice to businesses and organizations. They work on a variety of legal issues, including contract negotiations. This course can help Corporate Lawyers understand the challenges and strategies involved in negotiating contracts, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Corporate Lawyers.

See salaries and explore the career path for Corporate Lawyer

Project Manager

Project Managers are responsible for planning, executing, and closing projects. They work with a variety of stakeholders to ensure that projects are completed on time, within budget, and to the required quality. This course can help Project Managers understand the role of contracts in project management and how to negotiate contracts that are beneficial to their projects. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Project Managers.

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Policy Analyst

Policy Analysts research, analyze, and make recommendations on public policy issues. They work with policymakers to develop and implement policies that address a variety of issues. This course can help Policy Analysts understand the role of contracts in public policy and how to negotiate contracts that are beneficial to the public. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Policy Analysts.

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Government Official

Government Officials are responsible for making and implementing public policy. They work on a variety of issues, including contract negotiations. This course can help Government Officials understand the challenges and strategies involved in negotiating contracts, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Government Officials.

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Nonprofit Manager

Nonprofit Managers are responsible for leading and managing nonprofit organizations. They work on a variety of issues, including contract negotiations. This course can help Nonprofit Managers understand the challenges and strategies involved in negotiating contracts, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Nonprofit Managers.

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International Development Specialist

International Development Specialists work to improve the lives of people in developing countries. They work on a variety of projects, including contract negotiations. This course can help International Development Specialists understand the challenges and strategies involved in negotiating contracts in developing countries, which can help them be more successful in their roles. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for International Development Specialists.

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Human Rights Lawyer

Human Rights Lawyers advocate for the rights of individuals and groups. They work on a variety of issues, including contract negotiations. This course can help Human Rights Lawyers understand the challenges and strategies involved in negotiating contracts that protect the rights of individuals and groups. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Human Rights Lawyers.

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Environmental Lawyer

Environmental Lawyers advocate for the protection of the environment. They work on a variety of issues, including contract negotiations. This course can help Environmental Lawyers understand the challenges and strategies involved in negotiating contracts that protect the environment. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Environmental Lawyers.

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Energy Lawyer

Energy Lawyers specialize in the legal issues related to energy production and distribution. They work on a variety of issues, including contract negotiations. This course can help Energy Lawyers understand the challenges and strategies involved in negotiating contracts in the energy sector. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Energy Lawyers.

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Mining Lawyer

Mining Lawyers specialize in the legal issues related to mining operations. They work on a variety of issues, including contract negotiations. This course can help Mining Lawyers understand the challenges and strategies involved in negotiating contracts in the mining sector. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Mining Lawyers.

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Oil and Gas Lawyer

Oil and Gas Lawyers specialize in the legal issues related to oil and gas production and distribution. They work on a variety of issues, including contract negotiations. This course can help Oil and Gas Lawyers understand the challenges and strategies involved in negotiating contracts in the oil and gas sector. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Oil and Gas Lawyers.

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Real Estate Lawyer

Real Estate Lawyers specialize in the legal issues related to real estate transactions. They work on a variety of issues, including contract negotiations. This course may be helpful for Real Estate Lawyers who want to learn more about the challenges and strategies involved in negotiating contracts in the real estate sector. The course also covers the legal and regulatory frameworks surrounding contracts, which is essential knowledge for Real Estate Lawyers.

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