Question

When managing contracted relationships using the partnering approach, what characterizes each party's goals and objectives?

a) They are identical, ensuring mutual benefit.

b) They are dissimilar, focusing on individual gains.

c) They are irrelevant, as the partnership is solely contractual.

d) They are dependent on government regulations.

Answer 1

In a partnering approach to contract management, each party's goals and objectives align to ensure mutual benefit, leading to shared success and possibly shared profits among stakeholders.

Step-by-step explanation:

When managing contracted relationships using the partnering approach, each party's goals and objectives are typically aligned to ensure mutual benefit. This means that while each party might have their individual goals, they work together to achieve a common objective that benefits all involved. This collaboration often leads to shared success and can involve sharing profits amongst the stakeholders.

An example of this would be several competing corporations joining an association because they often have common issues that may affect an entire industry, and there is strength in numbers. Furthermore, they can all benefit from governmental policies, making such associations advantageous for all parties (As indicated in option 'd' from the provided reference).